In her FY 2027 budget address, New Jersey Gov. Mikie Sherrill highlighted PBM reform as a policy priority and indicated support for legislative efforts to address prescription drug costs in the state's Medicaid program. During the speech, the governor criticized PBM practices, stating that PBMs can inflate medication costs and retain manufacturer rebates while operating with limited transparency. She noted that New Jersey's Medicaid program could save an estimated $20 million if PBMs were prevented from inflating prices.
The governor also emphasized the impact of PBM practices on independent pharmacies, pledging to "crack down on PBMs" and reduce their influence over drug pricing. Sherrill said she looks forward to working with the legislature to pass a "comprehensive and historic PBM reform bill."
NCPA will continue its collaboration with the NJ Pharmacy Coalition/SAVENJRX and its stakeholders to reform Medicaid reimbursement in the Garden State.
