Notwithstanding the broader market rally, pharmacy benefit managers, or PBMs, saw weakness on Wednesday amid fears that President Donald Trump has his eyes trained on this space. The reason? Trump is apparently suspecting these companies are colluding with drug manufacturers in jacking up prices of drugs. The president may be seeking to redress the issue by encouraging direct negotiation of prices.
What Is A Pharmacy Benefit Manager?
PBMs are third-party administrator of prescription drug programs, acting as an intermediary between the payer and everyone else in the healthcare system. Listed among their responsibilities are:
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