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CVS and other drug-plan providers surge after the Trump administration scraps a key part of its push to lower prices
  • Pharmacy and health insurance stocks jumped on Thursday after the White House announced it would scrap its drug rebate plan.
  • The proposal was part of the Trump administration's efforts to reduce drug costs. If implemented, the rebate rule would've prevented pharmacy benefit managers from profiting on deals made between drug companies and insurers.
  • Administration officials and Health and Human Services Secretary Alex Azar disagreed on whether the rebate rule would be worth the approximately $180 billion it would cost the government over a decade.
  • The decision spares PBMs from having a major chunk of their revenues taken away.
  • Visit the Markets Insider homepage for more stories.

  • Cigna: +14%
  • CVS Health: +7.3%
  • Humana: +5.4%
  • UnitedHealth Group: +4.4%
  • Anthem: +3.8%
  • AmerisourceBergen: +3.7%
  • Centene: +3.5%
  • McKesson: +3.4%
  • Molina Healthcare: +3.4%
  • Cardinal Health: +2.9%
  • WellCare Health Plans: +2.5%
  • Walgreens Boots Alliance: +2.3%
...

Full "The Business Insider: The Money Game" article




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