Pharmacy Benefit Managers (PBMs) have seen their shares continue to plummet, with UnitedHealth, CVS, and Cigna dropping for the second consecutive day. The decline is attributed to comments from Pfizer CEO Albert Bourla, who stated that President-elect Donald Trump is “very committed” to reforming the industry’s middlemen.
Bourla’s remarks follow Monday’s comments from Trump himself, as well as criticism from members of Congress. This suggests that PBMs are unlikely to escape scrutiny during a second Trump term. According to Leerink analysts, the industry is currently in a “negative headline spiral.” As the situation unfolds, investors and stakeholders will be watching closely for any developments on PBM reform.
Source: https://www.bloomberg.com/news/articles/2024-12-16/trump-middleman-remark-sinks-cvs-unitedhealth-cigna-shares