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  White House drops proposal to eliminate drug rebates. Health stocks soar
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Last EditedRP  Jul 11, 2019 09:56am
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CategoryProposed Legislation
AuthorAngelica LaVito
News DateThursday, July 11, 2019 12:55:00 PM UTC0:0
DescriptionThe Trump administration has withdrawn its proposal to eliminate rebates from government drug plans, a key component of the president’s blueprint to lower prescription drug prices, a White House spokesman confirmed.

The administration sought to ban discounts on prescription drugs that insurers negotiate with pharmaceutical companies, saying these “backdoor rebates” have led to a “perverse incentive” for drugmakers to set list prices on drugs artificially high. Instead, the rule would give pharmacy benefit managers a flat fee for including drugs on their plan and would allow discounts to be passed on to patients at the pharmacy counter.
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