Mississippi Board of Pharmacy to Regulate PBMs Under Amended Pharmacy Practice Act

May 5, 2011 11:05 am

Amendments to the Mississippi Pharmacy Practice Act establish that pharmacy benefit managers (PBMs) doing business in the state will be regulated by the Mississippi Board of Pharmacy effective July 1, 2011. Senate Bill 2445, amending the act, was signed into law by Mississippi Governor Haley Barbour on April 26, 2011. The law requires PBMs to obtain a license from the Board before doing business in the state. The Board will be required to coordinate financial examinations of PBMs and to license and supervise PBMs, with the PBM required to pay the cost of these functions. According to Drug Store News, the amended act defines PBMs as nonresident pharmacies. The act requires that a nonresident pharmacy doing business in Mississippi certify that it understands and agrees to comply with the state’s pharmacy laws and regulations. Further, the pharmacist-in-charge at a nonresident pharmacy must hold the appropriate Mississippi pharmacist license, be licensed to practice pharmacy in the state of residence of the nonresident pharmacy, and be current and in good standing with the licensing boards of both states.