Valeant Pharma (VRX), Other Pharma Stocks Weaker as Clinton Op-Ed Discusses Measures on Drug Prices

September 29, 2016 12:01 PM EDT
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Price: $14.90 -1.39%

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Valeant Pharma (NYSE: VRX), Mallinckrodt (NYSE: MNK), Horizon Pharma (NASDAQ: HZNP), Mylan (NYSE: MYL) and other pharma stocks are weaker possibly as investors read into Hillary Clinton's comments in a NEJM op-ed overnight.

According to Evecore ISI's Umer Raffat, they key paragraph that all biopharma folks would care about:

Second, to directly address rising prescription drug costs, I will work to remove barriers to competition by streamlining approval of high-quality biosimilar and generic drugs. That includes proposals to ensure that drug companies justify their prices, eliminate "pay to delay" practices, and allow Medicare to directly negotiate for better prices. I will also create a new Federal consumer response team charged with identifying excessive price spikes in long-standing, life-saving treatments, and give them effective new tools to respond.

VRX is down 3.9%, MNK is down 3.8%, HZNP is down 2.9% and MYL is down 4.7%.

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Umer Raffat


old news
sidiji on 2016-09-29 19:22:50
Mark as Spam | Reply to this comment

this is a rehash of the info her campaign put out beginning of September

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