and so we again turned to peter bach and a guy named steve pearson at icer, the institute for clinical and economic review. they are helping us not negotiate what that price is, but give us some idea of what the true value should be. the third and most important thing i needed was i needed tens of millions of patients that would actually agree to have this on our formulary. and just like we organized our plans around hepatitis, and we are able to move our volume in hepatitis, we have gotten tens of millions of patients that will be following our formulary design to do this. we put out an rfp to the pharmaceutical companies, got a phenomenal response. we have that for 2016. we have to make sure the system works. we have to make sure that number one we're giving patients the best clinical options that are available to them. at no time should patients be caught in the middle of this. number two is we have to be giving visibility to our plan that they're paying the right fee. we have to be giving pharmaceutical companies visibility to what's going on so they feel comfortable doing this. an

for "nightly business report," i'm hampton pearson in washington. >> steve liesman covers the federal reserve for us. he was at the press conference earlier today with chair yellen, and he joins us now here on who has now quickly become a chilly constitution avenue. you asked two interest questions at the press conference. we snipped a little bit of her answer there in hampton's piece, but it really went -- her answers really went to the why now question, right, steve? >> yeah, two things. i was first trying to get a sense from her of when the next rate rise will come and what the reasoning will be behind it. why raise rates now and what would be the criteria for the next one? didn't quite get so much on that, because it wasn't really an economic reason per se. she's not looking for metrics in the unemployment rate necessarily or inflation. the reason, she said, was because if there's another shock to the economy, she wants to have a little ammo there. that was the first thing. and the other thing is think about the u.s. economy like a tanker. and i just heard this the other day. an o

. >>> but first, hampton pearson with the cnbc market wrap. >> thanks, steve. stocks sink on the second to last day of trading of the year. the dow falls by 117 points. the s&p down by 15. the nasdaq is off by 42 points. sliding oil prices weighed on those stocks. unexpected build of crude inventory sent oil down more than 3%, pressuring the transport. pending home sales fell last month as prices moved higher in some areas. and shares of apple shed more than 1% after the company agreed to pay about 350 milli$350 mill settle an italian tax dispute. that's it from cnbc, first in business worldwide. write down the number on your screen, so you can call when i finish. the lock i want to talk to you about isn't the one on your door. this is a lock for your life insurance, a rate lock, that guarantees your rate can never go up at any time, for any reason. but be careful. many policies you see do not have one, but you can get a lifetime rate lock through the colonial penn program. call this number to learn more. this plan was designed with a rate lock for people on a

steve, thank you very much. i want to bring in katrina pearson, spokeswoman for the donald trump campaign.th me. >> great fto see you. >> let's talk about the latest numbers. and i guess the positive on all this this, 71% of republicans think that donald trump is not being insulting. he's actually speaking out and speaking his mind out. is that what you think will carry trump through the primaries? >> i think it's a little bit more than that, but republicans are the best ones to decide who best represents them. but i also think that methodology is extremely important when be looking at these polls, particularly the msnbc poll. when we talk about registered voter, if doesn't where he down if you're talk about registered republicans, democrats and how weighted they are. however, when you look even further in this poll and you start to see the self-identifying questions, it looks like it's 68% democrat. so we're really looking at a democrat poll here. >> let's talk about latinos then that may or may not be favoring the democratic party. clearly president obama did very well in his race agains

pearson. hampt hampton, thank you. we as always have steve liesman to break down the beige book. doesn't seem like a wheole lot f new stuff here ahead of the fed decision next week. in two weeks rather. >> i think it sounds like the economy chair yellen described in her washington speech. it's growing modestly or moderately. some strength in housing. automobile the strength in autos. there isn't a whole lot the fed sees, brian, that you and i don't see just by following the data. maybe it's their analysis that we don't see necessarily and we see that when we get the speeches from all the fed folks, but ultimately autos doing well, housing is doing okay, exports, manufacturing, they're both challenged from the stronger dollar. that's not a surprise. we get a lot of added value in this from the anecdotes about pricing pressure and wage pressure and we're not seeing or hearing a whole lot of that. that notion of there being wage pressure in skilled industries is one that's been in the beige book for several years i want to say now, and it really hasn't translated more broadly to wag

steve leisman. >> my pleasure. >> we are back with the aforementioned special guest. >> ceo of valeant, mike pearson.k you for having me on. >> we have big news, before we get to it, we have to ask the transt transformation of valeant, going through a lot, how much did you know was going top? >> allegations have been made, nothing proven, and i was unaware of any of the allegations. >> did you know, none of the allegations, so what was going on at philador with prescription, changing prescriptions, things reported like that because you guys ended the relationship with them quickly after these things came out. >> ended quickly because if, one, if they were true, that's a real, real problem, we had no evidence they were true, but begin reaction reaction, we wanted to separate and move to another solution which this morning we announced that new solution. >> right. and in terms of -- this is 7% of the revenue. a lot of people are questioning how does something this big of a part of your business not get up to you? if yo don't know the things going on, what happened? >> oh, i was perfectly aware of the p