Found the law online. It looks like the goal is to bypass insurance and have the physician sell the medicine to the patient. Since running a pharmacy would require the state board to intervene, I guess they could only dispense to their own patients. Here's the text
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 157.002(f), Occupations Code, is amended
to read as follows:
(f) Subsections (b) and (c) do not authorize a physician or
a person acting under the supervision of a physician to keep a
pharmacy, advertised or otherwise, for the retail sale of dangerous
drugs, other than as authorized under Section 158.001(b),
without complying with the applicable laws relating to the
dangerous drugs.
SECTION 2. Section 158.001, Occupations Code, is amended by
amending Subsections (a) and (b) and adding Subsection (a-1) to
read as follows:
(a) In this section, "dangerous drug" has the meaning
assigned by Section 483.001, Health and Safety Code.
(a-1) A physician licensed under this subtitle may supply a
patient with any drug, remedy, or clinical supply necessary to meet
the patient's immediate needs.
(b) A physician may dispense dangerous drugs to the
physician's patients and charge the patients for the drugs
without complying with Chapter 558.
SECTION 3. Section 551.004(b), Occupations Code, is amended
to read as follows:
(b) This subtitle does not prevent a practitioner from:
(1) administering a drug to a patient of the
practitioner; or
(2) supplying dangerous drugs to a patient as provided
by Section 158.001(b).
SECTION 4. Section 563.051(d), Occupations Code, is amended
to read as follows:
(d) This section does not authorize a physician or a person
acting under the supervision of a physician to keep a pharmacy,
advertised or otherwise, for the retail sale of dangerous drugs,
other than as authorized under Section 158.001(b),
without complying with the applicable laws relating to the
dangerous drugs.
SECTION 5. Section 158.003, Occupations Code, is repealed.
SECTION 6. This Act takes effect immediately if it receives
a vote of two-thirds of all the members elected to each house, as
provided by Section 39, Article III, Texas Constitution. If this
Act does not receive the vote necessary for immediate effect, this
Act takes effect September 1, 2019.