Providers poised to pounce on midterm results for pharma beatdown

Rep. Lloyd Doggett of Texas has been one of many critics of Trump’s drug-pricing strategy, claiming that it hasn’t gone far enough. Doggett, who helped found the House Democrats’ Affordable Prescription Drug Caucus, is expected to head the House Ways & Means Committee’s health subcommittee in the new Congress, which would position him to influence that strategy.There may be more pressure to tweak the drug rebate model, given that a third of drug spending is in the pharmaceutical supply chain, said Ben Isgur, who leads PwC’s research institute.But Wall Street didn’t seem too concerned about the threat of drug-pricing overhauls as the pharmaceutical stocks increased Wednesday. Shares of Gilead, Pfizer, AbbVie and Amgen stock traded up more than 3%.