Specialty Pharma Stocks Surge on 'HUGE' Election Win
- Donald Trump Sworn in as 45th U.S. President
- Wall Street ends higher as Trump becomes president
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Specialty Pharmaceuticals stocks are sharply higher after a Trump win, House and Senate stay Republican and Proposition 61 in California was defeated.
Commenting on the results, Wells Fargo's David Maris said: "Overall, we believe the election results should provide a boost to pharmaceutical company investor sentiment. One will have to wait to see if Trump is serious about his anti-inversion rhetoric which was strong during the campaign, but overall, we think many healthcare investors thought that the election was going to turn out very differently and as such, we believe a relief rally in the sector seems likely, as pharmaceutical industry legislative risks are significantly diminished with the results."
- Shire plc (NASDAQ: SHPG) +7.7%
- Mallinckrodt (NYSE: MNK) +7.5%
- Teva (NASDAQ: TEVA) +7.3%
- Mylan (NASDAQ: MYL) +5.9%
- Horizon Pharma (NASDAQ: HZNP) +5.7%
- Concordia International (NASDAQ: CXRX) +5.5%
- Endo International (NASDAQ: ENDP) +3.5%
- Valeant (NYSE: VRX) +3.1%
- Depomed (NASDAQ: DEPO) +2.6%
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Related EntitiesWells Fargo, David Maris
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