( March 16, 2023, 1:46 PM EDT) -- SAN FRANCISCO — A California appellate panel on March 15 held that an arbitration agreement between a pharmacy benefits manager (PBM) and 22 independent pharmacies was “unconscionable” and affirmed a trial court’s ruling allowing the pharmacies to sue the PBM for violating California’s unfair competition law (UCL) and other statutes for conduct allegedly including price-fixing and diverting their business to its own mail-order pharmacy....