25 Pharmacy Benefit Managers Notified to Comply in ND

BISMARCK, N.D. (NewsDakota.com) North Dakota Insurance Commissioner Jon Godfread notified 25 pharmacy benefit managers (PBMs) of apparent unlicensed activity in North Dakota. They have 20 days after receiving the notice to submit a complete license application before cease-and-desist orders are issued. PBMs serve as middlemen between insurers, pharmacies and drug manufacturers. They influence prescription drug pricing, coverage and pharmacy reimbursement, affecting what North Dakotans pay for medications and the ability of local pharmacies to serve their communities. The North Dakota Insurance and Securities Department has information indicating the PBMs perating in the state without the required license. The notices provide an opportunity to come into compliance voluntarily. PBMs that submit a complete application within the 20-day period will have their applications processed in the ordinary course, and the Department will not issue a cease-and-desist order. PBMs that fail to meet