Just after midnight on the morning of Aug. 7, President Trump’s sweeping “reciprocal” tariffs took effect on dozens of international trading partners, marking another dramatic escalation of the administration’s “America First” trading policy.
State Update: New York Releases Major Market Conduct Regulations for Pharmacy Benefit Managers
On Nov. 21, the New York Department of Financial Services (DFS) announced sweeping market conduct regulations for pharmacy benefit managers (PBMs) serving health plans in the state. The DFS rule implements a landmark 2021 bill, S. 3762/A. 1396, which imposed restrictions on PBM contracts with health plans and pharmacies and established consumer protections. This action follows previous DFS rulemaking that created a broad definition of pharmacy benefit management services, required PBMs operating in the state to obtain a license, and established annual reporting requirements.
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President Trump signed H.R.1, Republicans’ “big, beautiful” reconciliation bill, into law on July 4, 2025. Starting from that date, the law lays out effective dates and implementation dates for its numerous health provisions over the next few years, and beyond.
AMCP comments on Trump Administration demands for manufacturers to take action on Most-Favored-Nation pricing scheme
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