Health

Health Insurers Fall as Pfizer CEO Says Trump Wants PBM Reform

UnitedHealth, CVS, Cigna drop again after Trump criticism
PBMs are in ‘negative headline spiral,’ Leerink analysts say

Donald Trump arrives at a news conference at his Mar-a-Lago resort in Palm Beach, Florida, on Dec. 16. — Donald Trump arrives at a news conference at his Mar-a-Lago resort in Palm Beach, Florida, on Dec. 16.
Photographer: Andrew Harnik/Getty Images

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By John Tozzi and Antonia Mufarech

December 16, 2024 at 6:08 PM UTC

Updated on

December 17, 2024 at 5:19 PM UTC

This article is for subscribers only.

Shares of pharmacy benefit managers extended losses Tuesday after Pfizer Inc. Chief Executive Officer Albert Bourla said President-elect Donald Trump is “very committed” to reforming drug-industry middlemen.

Bourla’s remarks, following comments from Trump Monday and continued criticism from members of Congress, suggest pharmacy benefit managers are unlikely to see relief from political scrutiny during a second Trump term.