Biotechs Slide After Trump Says “I’m Going To Bring Down Drug Prices”
by Tyler Durden
ZeroHedge.com
Dec 7, 2016
One year after Hillary Clinton and Bernie Sanders first hinted, on Twitter, that one of the main targets of their campaigns would be pharma and biotech companies in general, and high drug prices in particular, today as part of his extensive interview with Time, the President-elect, and the magazine’s winner of the “Person of the Year” award for 2016 hinted that he, too, would focus on high drug prices.
As Time writes, Trump “suggests that some stock analysts may have misread his intentions. The value of biotechnology stocks, for example, which enjoy large profit margins under current law, rose 9% in the day after Trump’s election, a rally of relief that the price controls Clinton had proposed would not happen. But Trump says his goal has not wavered. “I’m going to bring down drug prices,” he says. “I don’t like what has happened with drug prices.”
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