Arkansas Bans PBMs From Owning Pharmacies: Why It Matters for Employers

In a groundbreaking move, Arkansas has become the first state to ban pharmacy benefit managers (PBMs) from owning or holding a stake in pharmacies. In April 2025, Governor Sarah Huckabee Sanders signed HB1150 into law, addressing long-standing concerns over how PBMs' ownership of pharmacies has fueled higher drug prices, squeezed out independent pharmacies, and limited patient choice.

At DisclosedRx, we believe this is a major step in the right direction—and it highlights exactly why employers need to demand better from their PBMs.

What the New Arkansas Law Does

Starting January 1, 2026, PBMs operating in Arkansas will no longer be allowed to acquire, own, or hold retail pharmacy permits.

The rationale is simple: PBM ownership of pharmacies creates a massive conflict of interest.

When a PBM controls the price negotiations and the pharmacy filling the prescriptions, it becomes almost too easy for them to steer patients, manipulate reimbursements, and inflate costs, all while locking out independent competitors.

Since 2016, Arkansas has lost more than 60 local pharmacies. State leaders believe PBM-driven practices are a big reason why.

How DisclosedRx Is Different

At DisclosedRx, we are a fiduciary PBM.That’s not just marketing talk. It’s in our contract.As a fiduciary, we are contractually obligated to act in your best interest at all times, not our own.

• We don't own pharmacies.

• We don't steer members to “preferred” pharmacies we control.

• We don't profit by manipulating your drug spend.

  
  

Our job is to negotiate the best deals for you and your members. Period. No hidden agendas. No middlemen games. No double-dipping.

Why This Matters to Employers

If your PBM owns pharmacies, your plan is exposed to serious misalignments:

• Higher Costs: PBMs can inflate pharmacy margins without you realizing it.

• Reduced Access: Patients may be forced into PBM-owned channels even when better options exist.

• Employee Frustration: Limited pharmacy choice leads to dissatisfaction and increased HR headaches.

  
  

Arkansas' move signals that regulators are catching on. In fact, a similar federal bill—the Patients Before Monopolies Act (PBM Act)—is currently being debated in Congress.

But employers don’t need to wait for legislation.You have the power to demand a better PBM relationship today.

If you're ready to work with a PBM that puts your employees and your bottom line first, let’s talk.