President-elect Donald Trump has accused Big Pharma companies of murdering US citizens and “getting away with it” for decades.
In a bold move, Donald Trump promised on Wednesday to curb pharmaceutical companies’ ability to overcharge for medicines – saying that under his presidency big changes that would benefit the public were going to happen.
After his remarks, the Ishares Nasdaq Biotech ETF dropped 4 percent at its session low and was on track for its largest daily percentage drop since late June. Trump has blasted other industries for charging the government too much, particularly defense companies Lockheed Martin Corp and Boeing Co, but has made only a few public statements about drug pricing since being elected.
After his promise during a news conference, the ARCA pharmaceutical index fell 2 percent as Pfizer Inc gave up 2.6 percent and Johnson & Johnson fell 1 percent. Biotech Gilead Sciences Inc fell…
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