New York state will adopt new regulations for the middlemen negotiating prescription drug prices between wholesalers and pharmacies. 

Gov. Kathy Hochul's office says the new rules for pharmacy benefit managers, or PBMs, will protect access to prescription drugs, prohibit practices that increase costs and help independent pharmacies compete with larger ones, which sometimes operate their own PBMs.

Some of the regulations are aimed at increasing transparency of available prescriptions and easier access.

"New Yorkers deserve access to affordable and fair-priced prescription drugs, and today's regulations ensure that consumers and small pharmacies are protected from unfair business practices,” Hochul said in a statement. “We are leveling the playing field for independent pharmacies, while promoting competition and empowering consumers. These new measures will improve access to essential medications, eliminate anti-competitive practices, and make certain that the health care system works for everyone, not just the big players."

The new regulations can be found here.