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Illinois Pharmacists Advocating for the Critical Need for PBM Reform

Illinois Pharmacists Advocating for the Critical Need for PBM Reform WHAT: Press Conference on PBM Reform at Illinois Pharmacy Legislative Day The Illinois Pharmacists Association (IPhA) and the Illinois Council of Health-System Pharmacists (ICHP) are joining forces to advocate for critical reforms to Pharmacy Benefit Manager (PBM) practices. Illinois residents deserve affordable medications and access to community pharmacies. However, current practices by PBMs threaten both. PBMs are intermediaries between insurers and pharmacies, but they have increasingly leveraged their market power to inflate drug prices, limit patient choice, and undermine independent pharmacies. PBMs extract extra profit through opaque and often predatory tactics, denying patients the drugs and treatments doctors prescribe. These practices are driving up healthcare costs for Illinois families and forcing small, local, independent pharmacies out of business. Speakers will be available for questions following their statements. All speakers subject to schedule changes and availability. WHO: Garth Reynolds, Executive Director, IPhA Chris Crank, Executive Vice President, ICHP Senator David Koehler, 46th District Representative Natalie Manley, 98th District Dave Bagot, President, IPhA Bil Schmidtknect, Patient Advocate, Father of Cole Schmidtknect WHEN: Wednesday, February 26, 2025 2:30 PM WHERE: Blue Room, Illinois State Capitol Building – Room 010 Springfield, Illinois WHY: To raise awareness about the impact of PBM practices on medication affordability and access to community pharmacies, and to advocate for legislative reforms to ensure fair and transparent practices in the pharmaceutical supply chain. MEDIA CONTACTS: Garth Reynolds, BSPharm, RPh, MBA, FAPhA Executive Director, Illinois Pharmacists Association (IPhA) Email: [email protected] Christopher W. Crank, PharmD, MS, BCPS, FASHP Executive Vice President, Illinois Council of Health-System Pharmacists (ICHP) Email: [email protected] About IPhA and ICHP: Illinois Pharmacists Association (IPhA): Mission: The Illinois Pharmacists Association is dedicated to enhancing the professional competency of pharmacists, advancing the standards of pharmacy practice, improving pharmacists’ effectiveness in assuring rational drug use in society, and leading in the resolution of public policy issues affecting pharmacists. Illinois Council of Health-System Pharmacists (ICHP): Mission: Advancing patient care by promoting excellence in pharmacy practice through education, collaboration, advocacy, and leadership. Together, IPhA and ICHP work to promote the highest standards of pharmacy practice in Illinois and are committed to protecting patient choice and access to medications. Call to Action: We urge Illinois legislators to implement comprehensive PBM reforms to protect patients, support community pharmacies, and ensure a fair drug pricing system. These actions will enhance transparency, promote competition, and lower prescription drug costs for all Illinois residents. END###