Tennessee passes bill targeting pharmacy benefit managers. CVS plans to sue.

By: Adam Friedman

Outlets: Tennessee Lookout

Published: April 22, 2026

Words: 480

Last Updated: 2 months, 2 weeks ago

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Tennessee lawmakers overwhelmingly passed legislation banning a pharmacy from owning a pharmacy benefit manager, PBM, effectively targeting one of the largest healthcare conglomerates in the country.

CVS Health is the only company in Tennessee that owns a pharmacy and PBM, which is a middleman used by insurance companies to negotiate drug prices with pharmacies.

Republican state lawmakers introduced the bill after a Tennessee Department of Commerce and Insurance audit found that CVS …

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