In his first public remarks since rescinding price hikes, Pfizer chief executive officer Ian Read predicted the controversial rebates that drug makers pay to pharmacy benefit managers will soon disappear.
“I believe we are going to go to a marketplace where we don’t have rebates,” Read reportedly said during a conference call on Tuesday to discuss Pfizer earnings. “Rebates are going away.”
To what extent this will actually take place remains to be seen, but the Trump administration is working from a blueprint that would restrict or reduce the use of rebates, which are the most contentious aspect of the opaque pharmaceutical pricing system.
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