This bill aims to prohibit pharmacy benefits managers from directly or indirectly operating pharmacy practice sites in New Jersey, with the prohibition taking effect on July 1, 2027. It seeks to address anticompetitive practices that have negatively impacted local pharmacies and inflated drug prices. The New Jersey State Board of Pharmacy will be responsible for enforcing this prohibition by denying, revoking, or refusing to renew permits for pharmacy practice sites that violate this law. However, the board may issue special permits for certain rare, orphan, or limited distribution drugs that are otherwise unavailable, valid until September 1, 2028.

Additionally, the bill mandates the New Jersey State Board of Pharmacy to conduct an initial assessment of active permits and notify pharmacy practice sites that may be in violation of the new law at least 90 days before the effective date. Pharmacy practice sites receiving such notices must inform their patients and prescribing healthcare providers at least 60 days prior to the prohibition taking effect. The written notice must include contact information for the board and a list of compliant pharmacies, ensuring transparency and continuity of care for patients.