CVS Health (CVS), UnitedHealth (UNH) and Cigna (CI) must think about eliminating drug rebates before the government moves to change the system, Medicare and Medicaid chief Mehmet Oz said Tuesday, according to a Bloomberg report.
"There's a possibility that we have a window now where the three big pharmacy benefit managers might actually consider doing away with the rebate-slash-kickback system," Oz said in a meeting hosted by Transparency-Rx, a group of smaller pharmacy benefit managers that favor more open pricing, the report said.
The regulators and lawmakers could change the system "fairly expeditiously," as a motivated group wants to revamp it, Bloomberg said.
US Centers for Medicare & Medicaid Services, CVS Health, United Healthcare and Cigna did not immediately respond to MT Newswires' request for comment.
(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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