White House pulls the plug on proposed drug-rebate overhaul, CVS stock ticks up

THE WHITE HOUSE abandoned a push to end rebates paid to middlemen who negotiate drug prices on behalf of health insurers. CVS Health Corp.'s stock jumped up to 7% Thursday following the announcement. / BLOOMBERG NEWS FILE PHOTO/SIMON DAWSON
THE WHITE HOUSE abandoned a push to end rebates paid to middlemen who negotiate drug prices on behalf of health insurers. CVS Health Corp.'s stock jumped up to 7% Thursday following the announcement. / BLOOMBERG NEWS FILE PHOTO/SIMON DAWSON
WASHINGTON – The White House abandoned a push to end rebates paid to middlemen who negotiate drug prices on behalf of health insurers, a move that could turn scrutiny back on how drugmakers themselves set prices. President Donald Trump has made lowering prescription-drug costs a top priority of his administration, and ending rebates was seen…

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