pharmaceutical industry

What do you mean by that?Because your insurance company, whoever it may be, uses a PBM, a pharmacy benefit manager. The PBM has negotiated with a pharmacy what the reimbursement rate is. Except they basically said, “Here’s what we’re going to reimburse you.” [His Apple Watch buzzes.]You can go ahead and check that.It’s my son. [Speaking into watch.] We’ll do a late lunch. Don’t worry about it. Go ahead and have fun. [Back to the interview.] He’s playing basketball.Nice.So, with the PBMs, there’s no negotiation. Particularly for the small independent pharmacies, they take it or leave it. And: “Oh, by…