27 July 2018 - Health and Human Services Secretary Alex Azar said Thursday his agency will start taking steps to create a more open market for prescription drugs.

The United States lacks “a real market for prescription drugs, ” Azar said in a speech at the conservative Heritage Foundation.

In the current market, if pharmaceutical companies cut their list prices insurers, employers and pharmacy benefit managers – all of which negotiate discounts on prices for health plans – together will make less money from the rebates offered by the drug companies, he said.

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