11 January 2017 - The day after Donald Trump won the US presidential election, pharma and biotech investors seemed to decide his administration would be one in which scrutiny of drug pricing would vanish and profits would soar. 

Shares in the Nasdaq Biotech Index (NBI) surged more on November 9 than they had in more than eight years.

This dream was a fiction. An early clue was a Time magazine interview in December, when Trump pledged to bring down drug prices, a warning that took 3% off the NBI.

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