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White House pulls proposal to eliminate drug rebates: Politico

(Reuters) – The Trump administration has withdrawn its proposal to eliminate rebates from government drug plans, the Politico reported on Thursday, citing a White House spokesperson.

The White house did not immediately respond to Reuters request for comment.

Shares of health insurers such as UnitedHealth Group Inc, Cigna Corp and drug distributors like McKesson Corp rose after the report. CVS Health shares were also higher.

Reporting by Ankur Banerjee in Bengaluru; Editing by Saumyadeb Chakrabarty

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