(Reuters) – The Trump administration has withdrawn its proposal to remove rebates from authorities drug plans, the Politico reported on Thursday, citing a White Home spokesperson.

The White home didn’t instantly reply to Reuters request for remark.

Shares of well being insurers corresponding to UnitedHealth Group Inc, Cigna Corp and drug distributors like McKesson Corp rose after the report. CVS Well being shares had been additionally increased.

Reporting by Ankur Banerjee in Bengaluru; Enhancing by Saumyadeb Chakrabarty

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