CVS · 10-Q · 2026Q2 · Full report
PBM Legislative Restrictions
CVS HEALTH Corp · 2026-08-05 · Importance 37 · Surprise 42 · In source text
Comprehensive legislation and regulations governing pharmacy benefit manager activities have been proposed or enacted in a majority of states and at the federal level. Certain states have enacted or are considering restrictions on pharmacy licensure for pharmacies affiliated with a PBM. CVS Health warned that these measures could impair commercially reasonable operations, limit standardized PBM products and services across state lines, and restrict its ability to provide pharmacy and PBM services within the same state.
Key facts
- Legislation and/or regulations seeking to regulate PBM activities comprehensively have been proposed or enacted in a majority of states and on the federal level, and some states have enacted or are considering legislation related to prohibiting pharmacy licensure for pharmacies affiliated with a PBM. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| operating_income | negative | contingent | — | Legislation and/or regulations seeking to regulate PBM activities comprehensively have been proposed or enacted in a majority of states… |