Pharmacy-benefit manager stocks pressured as White House calls for lower biotech prices [MarketWatch]
EXPRESS SCRIPTS (ESRX)
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Source: MarketWatch
Pharmacy-benefit manager stocks pressured as White House calls for lower biotech prices Shares of pharmacy-benefit managers fell Friday after the White House released a paper pushing for lower biotech drug prices. Shares of Express Scripts Holding Co. ESRX, -2.24% declined 2.8%, CVS Health Corp. CVS, -1.64% shares slipped 1.5%, while shares of UnitedHealth Group Inc. UNH, +2.08% with its OptumRx PBM business, swung from a slight loss to be up 0.5%. On Friday, the White House's Coucil of Economic Advisers released a white paper entitled "Reforming Biopharmaceutical Pricing at Home and Abroad" which called for reducing prices of biotech drugs while raising incentives for medical innovation to promote competition.
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