Humana CEO: Competition, innovation key to lowering drug prices

Humana CEO Bruce Broussard told CNBC that increasing competition and innovation among drugmakers is the best way to cut drug costs.

"I really want to encourage competition because I think competition creates innovation, and when you create innovation everyone wins," Mr. Broussard told CNBC in an interview the day after House Speaker Nancy Pelosi released her much-anticipated drug-pricing plan.

Mr. Broussard, who told CNBC he's not opposed to government assistance to reduce costs, said lawmakers should include rules to facilitate competition and innovation in their proposals to combat rising drug prices.

He also said he favors rules that would create an out-of-pocket maximum for Medicare beneficiaries, which is included in Ms. Pelosi's plan.

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