CVS Health

Health care's love-hate relationship with Big Tech

Illustration: Aïda Amer/Axios

Health care companies are trying to fend off tech giants with one hand while striking up partnerships with them with the other.

Between the lines: Whether health care companies love or hate big tech's encroachment into their territory is dependent on whether they stand to make or lose money should the tech companies succeed.

Health care middlemen surge on rebate rule death

Source: FactSet; Chart: Axios Visuals

President Trump's decision to withdraw the rule that would've overhauled behind-the-scenes drug rebates led to huge stock gains yesterday for health insurance companies and pharmacy benefit managers, which have suffered since the rule was first proposed in January.

The big picture: The health care industry's largest middlemen dodged a giant bullet since rebates are an important part of their businesses. But they are not out of danger, as states and Congress are working to change how they influence the price of drugs.