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Insurers Rise, Drug Makers Fall On Regulatory Decision - Health Care Roundup

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07/11/2019 | 04:40pm EDT

Health-care companies were more or less flat after the Trump administration dropped a proposal to curb rebates given to drug-industry middlemen, a move that boosted shares of drug wholesalers and insurers but weighed on shares of drug makers. Shares of UnitedHealth Group, CVS and Cigna, who stood to bear more costs if rebate programs were curbed, rose sharply. Shares of drug makers, who will now bear the brunt of political pressure over drug prices, fell, however. Eli Lilly, Merck, Bristol-Myers Squibb and Pfizer all declined. Consumer products maker Reckitt Benckiser Group will pay up to $1.4 billion to settle U.S. investigations into whether its former pharmaceuticals unit organized a multibillion-dollar fraud to drive up sales of an opioid-addiction treatment.

-Rob Curran, rob.curran@dowjones.com

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