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VanderWall celebrates new law to help make prescription drugs more affordable

LANSING, Mich. — Senate Health Policy and Human Services Committee Chair Curt VanderWall on Wednesday celebrated legislation providing more affordable prescription drugs being signed into law by the governor.

“This legislation holds pharmacy benefit managers accountable and allows our pharmacies to compete and provide more affordable prescription drugs to those who need them,” said VanderWall, R-Ludington. “After many months of negotiations on the committee level — bringing all interested parties to the table — I am proud to have helped guide this bill across the finish line and am confident this law will benefit the people of Michigan when they go to the pharmacy counter.”

House Bill 4348, also known as the Pharmacy Benefit Manager Licensure and Regulation Act, received wide bipartisan support, passing unanimously in the Senate and 101-4 in the House last week.

“This legislation was sorely needed as Michigan is one the last states to regulate pharmacy benefit managers,” VanderWall said. “These managers have a significant impact on the cost of prescription drugs. These regulations will bring reporting and transparency to a previously unregulated process, and ultimately help to combat the rising cost of prescription drugs.”