July 11 (Reuters) – The Trump administration has withdrawn its proposal to eliminate rebates from government drug plans, the Politico https://www.politico.com/story/2019/07/11/white-house-drug-rebate-rule-1405884 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)