Drug Stocks Drop on White House Plan to Lower Drug Costs

Stocks of pharmaceutical makers slumped on Thursday after the Biden Administration unveiled plans to lower prescription-drug pricing for Americans. The White House plan includes, among many other proposals: — enabling the federal government to negotiate drug prices for Medicare and pass on the savings to the private sector; — testing value-based models by which payment for drugs would be based on their clinical value to patients; — drug-importation programs that reduce costs.

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2021-09-09 17:59:32