CVS Rejects Pharma Notion That High Rebates Drive Price Hikes

CVS Health President and CEO Larry Merlo flatly rejected drug makers' argument that they increase drug list prices to make up for the rebates they pay pharmacy benefit managers, telling investors that CVS data show list prices increase faster for drugs with small rebates than for those with substantial rebates. “If list prices were the result of a manufacturer's need to address rebates, then you would expect rebates and list prices to be highly correlated,” Merlo said on a CVS...