US States' attempts to regulate pharmacy benefit managers are running into federal law, reviving a dispute over who has authority over companies that manage drug benefits for most Americans, Axios reports

The ongoing clash between US states and federal law regarding the regulation of pharmacy benefit managers (PBMs) highlights the complexities in the healthcare system. As states attempt to exert more control over these intermediaries that manage drug benefits, the federal governance of employer health plans complicates this landscape. This could have broader implications for healthcare costs and market dynamics, potentially affecting equities tied to the healthcare sector.