President-elect Donald Trump told reporters Monday his administration is going to "knock out" pharmacy benefit managers in an effort to bring down drug prices, Bloomberg reported.
Shares of UnitedHealth Group (UNH), CVS Health (CVS) and Cigna (CI), which own the three largest pharmacy benefit managers, were down 3.7%, 3.8% and 1.7%, respectively, around 1 p.m. ET.
UnitedHealth, CVS and Cigna did not immediately reply to requests for comment from MT Newswires.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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