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President Donald Trump, who has promised lower prescription drug costs for U.S. consumers, earlier this year singled out industry “middlemen”, such as PBMs and insurers, and the common practice of drugmakers offering rebates to them. PBMs like CVS’ Caremark unit make a profit by using their scale to negotiate drug prices and by providing cost-management strategies to health plans burberry cufflinks nordstrom uk online. Under its new option, CVS takes on the risk of drug price inflation and shifts in drug use – at least for the term of each contract..
The new model guarantees average spending per prescription across each distribution channel – retail, mail order and specialty pharmacy, Derica Rice, president of CVS Caremark, said in an interview. Rival PBM Express Scripts Holding Co last month announced a new drug coverage list aimed at accommodating reduced prices for brand-name drugs as a way to encourage drugmakers to move away from paying rebates after a prescription is filled burberry cufflinks nordstrom uk online. Trump Administration officials have also suggested ending the rebate practice..
“If rebates go away, this model accommodates that,” Rice said burberry cufflinks nordstrom uk online. “But as long as we get to the lowest net cost we are indifferent.”. He said plan sponsors still have the option to choose whether to pass on any rebates to patients at the pharmacy counter. CVS said it is first offering the net cost model to employer-sponsored plans, but will eventually make it available to all clients, including government health plans. Rice said both existing and new clients have already chosen to adopt the net cost model next year, but he declined to estimate how many clients were expected to make the switch..
SAO PAULO (Reuters) – Brazilian investigators said on Wednesday that “top executives” of trading giants Vitol, Trafigura and Glencore had full knowledge that their employees paid millions in bribes to executives of state-controlled oil company Petroleo Brasileiro SA in return for business burberry cufflinks nordstrom uk online. Police and prosecutors said in a press conference that there are strong indications the scheme is ongoing, citing prison visits that company representatives made to Petrobras executives already convicted and serving time in Brazilian jails. Bribe money allegedly moved through accounts in the United States, the United Kingdom, Switzerland and other European nations..
LONDON (Reuters) – Britain’s BT Group said on Wednesday it was removing Huawei Technologies’ equipment from the core of its existing 3G and 4G mobile operations and would not use the Chinese company in central parts of the next network. New Zealand and Australia have stopped telecom operators using Huawei’s equipment in new 5G networks because they are concerned about possible Chinese government involvement in their communications infrastructure. Huawei, the world’s biggest network equipment maker ahead of Ericsson and Nokia, has said Beijing has no influence over its operations burberry cufflinks nordstrom uk online.