Gov. DeSantis signs drug price transparency order

As inflation skyrockets, it seems prices on everything are climbing – from groceries to lumber to airplane tickets. But in Florida, that trend may soon see a reversal when it comes to prescription drugs. On July 8th, Governor DeSantis signed Executive Order 22-164, which seeks to reduce prescription drug prices by promoting price transparency amongst pharmacy benefit managers (PBMs). 

“Florida continues to lead the nation in ensuring accountability in the health care industry and in introducing reforms to combat rising prescription costs,” Governor DeSantis said in a news release.  “This executive order requires accountability and transparency for pharmaceutical middlemen when doing business with the state, thereby reducing the upward pressure on prescription drug costs.”

Pharmacy benefit managers work with manufacturers and pharmacies to set drug costs for health insurers. Though this process ostensibly brings down prices, in practice, many say costs have become inflated.