"New Jersey Pharmacy Fair Reimbursement and Anti-Steering Act."

This bill requires pharmacy benefits managers (PBMs) operating in New Jersey to annually report detailed financial data to the state Division of Insurance. Specifically, PBMs must disclose minimum/maximum wholesale drug prices, negotiated rebates, volume data, spread pricing revenue, and prior authorization metrics for each drug or drug group. These reports directly affect PBMs and the pharmacies that contract with them, as they increase transparency around drug pricing and rebates. The data will help the state monitor pricing practices and ensure fair reimbursement for pharmacies under insurance plans.