Prohibits pharmacy benefits managers from operating pharmacy practice sites directly or indirectly.

This bill prohibits pharmacy benefits managers (PBMs) from owning or operating pharmacy practice sites in New Jersey, effective July 1, 2027. It directly affects PBMs and pharmacies currently owned or controlled by them, requiring separation between PBM pricing decisions and pharmacy operations. Key provisions include banning PBMs from holding pharmacy permits, allowing limited special permits for rare or orphan drugs until September 1, 2028, and requiring pharmacies to notify patients and providers 60 days before the effective date. The law aims to reduce conflicts of interest and improve competition in pharmacy services.