Express Scripts, CVS Health, and UnitedHealth Group lost a combined $5 billion in market cap Thursday after it was revealed the Trump administration is proposing a rule that will alter how drug rebates can legally work in federal health care programs.
Flashback: These pharmacy benefit managers took a similar beating in May when the rebate chatter began.
Illustration: Sarah Grillo/Axios
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Sen. Elizabeth Warren and Hillary Clinton both are slated to speak on the Wednesday of the Democratic convention — Aug. 19 — four sources familiar with the planning told Axios.
Why it matters: That's the same night Joe Biden's running mate (to be revealed next week) will address the nation. Clinton and Warren represent two of the most influential wise-women of Democratic politics with the potential to turn out millions of establishment and progressive voters in November.
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President Trump announced on Friday he will pursue an executive order requiring insurance companies to cover pre-existing conditions, something that is already law.
Why it matters: The Affordable Care Act already requires insurers to cover pre-existing conditions. The Trump administration is currently arguing in a case before the Supreme Court to strike down that very law — including its pre-existing condition protections.