Health-care companies slipped after a report from the Federal Trade Commission that was highly critical of drug wholesalers.
In a development that could hint at the Biden administration's next step in its plan to rein in drug prices, the FTC detailed how the six largest pharmacy-benefit managers, which include CVS Health's CVS Caremark, Cigna's Express Scripts and United Health Group's Optum Rx, fill 94% of all prescriptions.
Bankrupt opioid maker Purdue Pharma is backing an effort by its top creditors to sue members of the Sackler family who own the company over allegations that they illegally transferred billions of dollars to private trusts before Purdue's 2019 bankruptcy filing.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
07-09-24 1737ET
