White House kills rebate rule aimed at lowering drug prices [Reuters]
The Cigna Group (CI)
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Source: Reuters
White House kills rebate rule aimed at lowering drug prices - Reuters 3 Min Read (Reuters) - The Trump administration has withdrawn a rule that it had said would lower drug prices by ending the system of prescription drug after-market discounts called rebates that drugmakers pay to pharmacy benefit managers. Shares of Cigna Corp, the largest U.S. pharmacy benefit manager, were up 13.5 percent in early Thursday trading. The move is a setback for the administration, which first launched the idea of eliminating the “safe harbor” protections for the payments last summer as part of a drug pricing “blueprint” aimed at bringing down costs, an important election issue for President Donald Trump. The rule would have forced healthcare companies like Cigna and CVS Corp to forgo these discounts or pass them onto Medicare patients through their health insurance plans and drug plans. The companies said that would force them to raise monthly premiums. The rule, which was in the process of being fina
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- 11/19/24 - Form 4
- CI's page on the SEC website