By Julian Pecquet - 07/09/10 09:12 PM EDT
A local law designating Pharmacy Benefit Managers as fiduciaries was struck down by the DC appeals court today. A three-judge panel on the U.S. Court of Appeals for the District of Columbia found that key portions of the 2004 law were unconstitutional.
The district of Columbia law never went into effect because of an injunction filed right after the law passed. The court found that PBMs are regulated exclusively by federal law, so states and local governments can't impose other requirements.