July 11, 2019 / 11:50 AM / 5 days ago

White House pulls proposal to eliminate drug rebates - Politico

July 11 (Reuters) - The Trump administration has withdrawn its proposal to eliminate rebates from government drug plans, the Politico here reported on Thursday, citing a White House spokesperson.

The White house did not immediately respond to Reuters request for comment.

Shares of health insurers such as UnitedHealth Group Inc , Cigna Corp and drug distributors like McKesson Corp rose after the report. CVS Health shares were also higher. (Reporting by Ankur Banerjee in Bengaluru Editing by Saumyadeb Chakrabarty)

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