by removing the pbm share of the rebate, the insulin act would eliminate the incentive for pbm's to choose the higher list price product. finally, our bill takes a number of steps to promote biosimilar competition. more choices in the insulin market would drive down prices by creating competition. the insulin act would create a new expedited fda pathway to promote biosimilar competition. this provision is modeled after a successful law i authored with former senator clare mccaskill in 2017 to improve competition for generic druz and according to fda, nearly 200 products benefited from this. let's extend that to biosimilars as the shaheen-collins bill would do. the insulin act would take similar steps to enhance that regulatory certainty for biosimilar drug companies. you know, it's ironic that there's a biosimilar insulin available in canada and europe right now that cannot be produced for u.s. distribution because the fda has taken nearly ten months to reinspect the safety of the facility where the drug is being manufactured. so what we want to do is expedite the regulatory process. mr. p

is there regulation risk in the near term that vinvestors need t know about >> i think the pbm spaceght for regulatory and legislative changes. in general, i just had a big policy event last week all of the speakers are expecting legislation this year. what it is focused on is not just transparency, but business model shift from the hidden fee model which is spreads to a explicit fee model admin fees any time you see the fee, it is less you can't see the fee united is the best positioned of all of the pb ms there united health insurance is the customer the pbm would make less money, but the customers would make money. it is moving money from one pocket to another for half of the business >> okay. that is interesting. in your note, you are not expecting any big surprises. any metrics that investors should look at a huge company $490 billion market cap. a lot of portfolios for etfs and pensions >> you know, i think the most important thing is medical lost ratio and medical costs for the year how they deal with guidance. the second thing is top line and some of the services businesses o

we need reform of the pbm's. [applause] while our economy is consistently outperform the nation as a whole, florida's lawsuit happy legal climate is still holding us back. the legal system should be centered on achieving justice not line the pockets of lawyers. speaker paul is stepping up to deliver much-needed legal reform. i thank him for helping florida it reached its full potential. thank you sir. our state is growing. americans are voting with their feet and we went to ensure were getting ahead of the population expansion bite celebrating infrastructure projects. twenty major interstate and roadway projects in four years this will allow projects to be completed a decade ahead of schedule. i'll save floridians from having to sit in the awful traffic they sometimes have to do. we also to ensure our supply of housing is adequate to meet the needs of those in our workforce. workforce to make our economy tick should be should be able to find a place that's affordable and their general area of their jobs. i would

vulnerable populations. >> that is very true i can give you a specific example of the naming specific pbms. >> please do. >> there are two major assault on the program the first is manufacturers refusing to submit -- to honor 340b pricing without a submitting data. when we submit data, that becomes transparent to the pbms who then, in turn, in order to recoup the rebates they lost, reimbursed for less than what they would for a retail pharmacy. i will use one example. we operate both retail and 340b. it gives us a lens into both. the for the retail pharmacy, the reimbursement rate might be a w p minus 4%. you turn it over to 340b and it is awp minus 32.5%. when you add dir fees on top of that the dramatic reduction is below cost. >> mister chairman i hope that the staff is taking note of this conversation. this is an issue for separate hearing. ranking member, i certainly think we need to dive deeper into that want. next, a question for miss farb. i'm trying to put my numbers together here. for as the payer mix, we saw the dollars and cents. a patient volume is probably 60% medicaid, 20 25

100 million shares and you're using the strong cash flow i think the thing on cigna they are 50% at pbmit manager and wash worrell will take shots, and that's one of the reasons the stock traded more than 1% in march. if you added up all of the things we cared about versus what actually happens, the fire are grower than it actually happened and investors went through the noise and thought the business models are very resilient at the time. >> that's john ransom and you heard him talking about it, as well >> cigna, back to mike santoli as we approach the two-minute warning and it's the second best sector of the down day and outtimo utilities are leading and a bit defensive and it is healthcare leading the charge, 1.75%. >> and pharma, in particular, and terms of the upside contributor on the net basis to the s&p 500. j&j, is moving on news of the legal settlement and drafting in the wake are the other pharma stocks and that is, you know, classic and undemanding valuations and money finding its way there. so y rotation toward very traditional safety it's really the playbook that you would

and diversified across the health care space and have exposure to some of the faster growing parts, pbmey defy their own valuation. so, you are buying weakness here, if you get it. >> mike, i'm sure you remember, charter braxtonworth, didn't he call this chart god-like or something like that? it was one of these terms that you rarely here carter use >> other than talk about mike. >> he did say that and interestingly, to tim's point this is a company that is typically traded at a premium. right now, it is trading at about the same turn. this is a name we hold just under 7% of the portfolio in unh. definitely a name i like, as well you don't usually get it at this type of a turn >> mike, thank you for more options action, next friday, we're off this friday, next friday, 5:30 p.m. eastern time. >>> coming up, the golden arches make an unusual move as it preps yos.laff we'll bring you details on the mcdonald's trade, next stick around more "fast money" in two a third kid. what if she likes playing golf? it's expensive. we're outlawing golf. wait. can i still play? since we work with emower,

you have a network of distributors, dealers, you don't have pbms in there that make it confusing, you need an mba to look at that flow start. what are you going to start making it easy for all of us to see what things cost. and then not look at the government, when they were part of this formulation in terms of how we got the vaccination, and then want more from it. you're involved in a tax payer -- you're involved in a lawsuit, where you've got two smaller companies, are bonus and -- that are making a claim that you had a patent infringement. i'm hearing that, not only here, but patent tweaking, patent infringements, when it comes to where we spend even more money on biologics and bio similar's. point being, whether it's a government paying for it, or a private sector, it's a bargain system. you need to get better at it or you're going to get solutions in the long run but you don't like. your distribution system, why is it something that it's something that you have to recreate, where as it been up to this point, how do you distribute your flu vaccines? why do you need this much mone