Valeant Pharma (VRX), Other Pharma Stocks Weaker as Clinton Op-Ed Discusses Measures on Drug Prices
- Dow, S&P 500 surge to highs; transports set record
- Unusual 11 Mid-Day Movers 12/7: (ANTH) (EMKR) (PLAY) Higher; (SIGM) (OHAI) (FTK) Lower
- Abbott (ABT) Files Complaint to Terminate Alere (ALR) Acquisition
- Western Digital (WDC) Raises Q2 Outlook
- Biotech, Pharma Stocks Weaker Amid Trump Comments on Lower Drug Prices
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
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%.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Stocks with Implied Volatility Movement
- Oppenheimer Assumes Mallinckrodt plc (MNK) at Outperform
- KLR Group Raise Price Target on Oasis Petroleum (OAS) to $22; Reiterates Buy
Create E-mail Alert Related CategoriesAnalyst Comments, Trader Talk
Related EntitiesUmer Raffat
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!