T■ By John Jones / RPh, JD, FAMCP he public debate around the cost of prescription drugs has unfairly turned on the one player in the system reducing drug costs – pharmacy benefit managers, or PBMs. The California legislature is considering misguided legislation, AB 315, affecting the PBM industry. A simple understanding of the industry shows that more regulation is a bad idea that will increase drug costs. A PBM is a healthcare company that contracts with insurers, employers, government programs and others to administer the prescription drug part of a health care benefit. If you have a prescription drug card, chances are that you are working with a PBM to

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