WeVote
Log In

Bill

Bill

SB 773

Pharmacy benefit managers; modifying definitions; prohibiting certain circumstances; requiring nonpayment under providing venue for certain court proceeding; allowing Attorney General to obtain certain information. Effective date.

2025 Regular Session Introduced by Todd Gollihare and 1 co-sponsor

Oklahoma restricts pharmacy benefit manager practices, requires venue for payment disputes, and empowers the Attorney General to investigate PBM operations to increase transparency and consumer protections.

Veto override message received
0
WeVote Research Nonpartisan
Bill Summary · SB 773

Legislative bill overview

SB 773 regulates pharmacy benefit managers (PBMs) in Oklahoma by modifying definitions of their practices, prohibiting certain operational circumstances, establishing venue rules for nonpayment disputes, and granting the Attorney General authority to obtain information from PBMs. The bill became law after the Governor's veto was overridden with unanimous support in the Senate.

Why is this important

PBMs control drug pricing and formularies for insurance plans, affecting medication access and costs for Oklahoma consumers. This legislation attempts to increase transparency and accountability in PBM operations, which can impact pharmaceutical prices, pharmacy profitability, and insurance premiums. The unanimous veto override (47-0) signals strong bipartisan concern about PBM practices in the state.

Potential points of contention

  • PBM industry opposition: Pharmacy benefit managers may argue the regulations are burdensome, could reduce efficiency, or increase administrative costs passed to consumers
  • Undefined restrictions: The bill's specific prohibitions on "certain circumstances" lack detail in this summary, potentially creating enforcement ambiguity
  • Attorney General power scope: Granting broad information-gathering authority to the AG could be viewed as excessive regulatory overreach or inadequately justified

Compiled from official sources — confirm details with the bill’s official record.

Sign in to ask a question.