Drug plans drop as Trump official targets PBMs ahead of speech

CVS HEALTH'S stock dipped Monday after a Trump official said that PBMs role in the health care industry was hurting patients. / BLOOMBERG FILE PHOTO/MICHAEL NAGLE
CVS HEALTH'S stock dipped Monday after a Trump official said that PBM operators' role in the health care industry was hurting patients. / BLOOMBERG FILE PHOTO/MICHAEL NAGLE
NEW YORK - Shares of CVS Health Corp. and Express Scripts Holding Co. slipped Monday after one of the Trump administration’s top health-care officials said the companies’ roles as intermediaries between drugmakers and health plans was hurting patients. Known as pharmacy-benefit managers, or PBMs, the plans negotiate with drugmakers to put their products on lists of…

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