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New executive order aimed at lowering prescription drug prices in Florida

A new executive order is slated to help Floridians pay less for prescription drugs, adding more rules for the pharmacy and manufacturer middlemen known as pharmacy benefit managers. 

Governor Ron DeSantis issued the new directive Friday to cut down markups passed on to consumers. State leaders said Floridians are overpaying and part of the reason includes pharmacy benefit managers or PBMs and some unfair practices they may do.

“Spread pricing is a deceptive practice where PBMs collect payment from the individual and keep leftover funds after they already reimbursed the pharmacy for the prescription and the service costs,” said Governor Ron DeSantis, R-Florida.