REPORT: White House withdraws controversial rule to eliminate drug rebates
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The White House is withdrawing a controversial proposal to change how drugs are paid for, a spokesman said Thursday.
The administration is scrapping a rule that would have banned “rebates,” essentially discounts that drug companies give to negotiators known as pharmacy benefit managers.
The article goes on to state the following:
This proposal was one of the few drug pricing moves that the pharmaceutical industry actually supported, so its withdrawal is a loss for drug companies and a big win for pharmacy benefit managers and insurance companies, who had strongly opposed losing out on the discounts they get from drug companies.
“Based on careful analysis and thorough consideration, the President has decided to withdraw the rebate rule,” said White House spokesman Judd Deere. “The Trump administration is encouraged by continuing bipartisan conversations about legislation to reduce outrageous drug costs imposed on the American people, and President Trump will consider using any and all tools to ensure that prescription drug costs will continue to decline.”
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