~ Governor Newsom Signs SB 41 to Lower Prescription Drug Prices in California

In a move to reduce the burden of high prescription drug costs on Californians, Governor Gavin Newsom signed SB 41 into law today. The bill, introduced by Senator Scott Weiner (D-San Francisco), aims to regulate the practices of pharmacy benefit managers (PBMs) in order to prevent inflated drug prices.

Under this new legislation, PBMs will be licensed by the Department of Managed Health Care (DMHC) and will be subject to strict regulations. These include prohibiting the practice of spread pricing, requiring manufacturer rebates to be passed on to health plans, and limiting administrative fees charged to health plan and health insurer clients.

Governor Newsom expressed his satisfaction with the passing of SB 41, stating that it will lower healthcare costs for all Californians. He also highlighted the state's efforts in tackling rising drug prices through initiatives such as the 2025 budget and CalRx.

California has been at the forefront of addressing healthcare costs and promoting transparency in pricing. With this new legislation, it continues to lead the way in ensuring that savings are passed on to payers and consumers.

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Senator Weiner also praised Governor Newsom's leadership in fighting against corporations that take advantage of consumers when it comes to essential medications. He emphasized that SB 41 builds upon previous efforts to hold PBMs accountable for their actions.

The full text of SB 41 can be found on the California Legislative Information website.

In addition to this bill, Governor Newsom also signed a series of other bills aimed at improving services and resources for women in California. These include measures that address gaps in maternal and prenatal care, improve access to child care resources, and protect vulnerable women.

Furthermore, as Trump's federal shutdown continues for its tenth day, California is stepping up to provide support for workers who have been affected by this failure. The state is taking action amidst ongoing economic struggles and the federal government's neglect of labor issues.

Governor Newsom also signed SB 19, which allows for the prosecution of threats made against schools, workplaces, places of worship, and hospitals. This measure aims to ensure that Californians feel safe in their communities.

With these recent developments, California is making significant strides in addressing healthcare costs and protecting its citizens. Governor Newsom's commitment to promoting transparency and accountability in the healthcare industry is evident through his support of these bills.

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