Pharmacy Law Lowdown: Legislative Shifts in 2026 PBM Reform

In episode 4 of the Pharmacy Law Lowdown, hosts Dae Lee, PharmD, Esq, CPBS, and Lucas Morgan, Esq, shareholders at Buchanan Ingersoll & Rooney, discuss the unprecedented pharmacy benefit manager (PBM) reform bills looking to pass—and those that have taken effect—in 2026 and more.

From key state-level reforms setting the precedent to industry-wide updates that could forever impact the PBM-pharmacy relationship, our hosts are back in 2026 to provide their expertise amid a rapidly evolving pharmacy landscape.

“SB-41 is a landmark PBM bill that got enacted starting January 1, 2026,” said Lee. “I’m referring to it as a landmark PBM reform law because California is the first state that actually passed a PBM reform law to this magnitude. This law is very good for plan sponsors and patients as well as independent pharmacies.”

Lee and Morgan started this month’s episode by addressing some of the most important PBM legislation ever passed and how it will affect stakeholders going forward. Although this law is a state statute, it has the potential to amplify lawmakers and PBM reform advocates across the country.

Along with California’s state law and what that means for the greater pharmacy industry, the duo also addressed some of the legislative hurdles posed by common opponents of PBM reform—namely the Pharmaceutical Care Management Association (PCMA), a lobby group representing some of the market’s largest PBMs.

On top of these developments, they also addressed the potential signing of Congress’ 2026 spending bill, its inclusion of key PBM reforms focused on contracting and compensation, and general updates and things to look out for throughout the year.

Pharmacy Law Lowdown is a podcast offering from Drug Topics, hosted by Dae Lee, PharmD, Esq, CPBS, and Lucas Morgan, Esq, shareholders at Buchanan Ingersoll & Rooney, a national law firm that provides legal, business, regulatory, and government relations advice to a wide range of clients.

Be sure to tune into Drug Topics for important updates in pharmacy and how to handle them. All episodes of Pharmacy Law Lowdown will be available in video format via DrugTopics. Check out our most recent episode from November 2025: Independent Pharmacy’s Most Challenging Legal Concerns.

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