UPDATE: Merck (MRK) Falls 5% on Market Open, Leading Drugmakers Lower
Merck (NYSE: MRK) declined on the market open Tuesday falling over 5%. Other drugmakers were also lower, with Pfizer (NYSE: PFE) down 1.8% and Eli Lilly & Co. (NYSE: LLY) down 3.8%.
iShares Nasdaq Biotechnology (NASDAQ: IBB) declined 1%.
The slide in drugmakers was tied in part to reports Pelosi's drug pricing plan 'spooked' investors.