Included in Gov. Mikie Sherrill's Budget Address list of potential spending cuts and reforms around health care costs was a promise that caught the ear of the state's incredibly important life sciences sector: PBM reform.

Sherrill called PBMs - officially "Pharmacy Benefit Managers" - a "type of shadowy middleman" who "sits between insurers, drugmakers, and pharmacies," blaming them for the rise of prescription drug costs.

"They drive up the cost of medications as much as 10 times, while padding their profits with secret manufacturer rebates and insider tricks," she said.

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That was enough for life science group leaders.

HealthCare Institute of New Jersey CEO Chrissy Buteas applauded the announcement, calling common-sense PBM reform "one of the most effective and immediate ways to lower health care costs" and praising the governor's urgency in delivering real savings for patients. →Read the full article here.