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Sorry, pharma: White House pulls industry's favored rebate proposal

July 11, 2019 / Eric Sagonowsky

When the Trump administration rolled out its proposal to dramatically reshape drug rebates last year, the pharma industry cheered. Analysts figured the move would spread to private plans, too. But that rejoicing was premature. In a major setback for drugmakers, the White House is backing off—and payers are likely to cheer instead. Early Thursday, reports surfaced that President Donald Trump was killing the plan. Spokesman Judd Deere told numerous publications that “based on careful analysis and thorough consideration, the president has decided to withdraw the rebate rule.” "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,” he added, as quoted by Politico. Despite enthusiasm from pharma companies, the idea faced intense pusback ...