New York to Regulate Pharmacy Benefit Managers

Under legislation signed on December 31 by Governor Kathy Hochul, (S.3762/A. 1396; L2021, ch. 828), all pharmacy benefit managers operating in New York State will be required to register with the State Department of Financial Services (DFS) by April 1, 2022, and thereafter to be licensed by January 1, 2023.

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