7 December 2016 - His drug price comments rattled investors.

Biotech is seeing red.

Just two sentences from President-elect Donald Trump on drug prices sent biotech investors into a frenzy Wednesday. Major indices like the NASDAQ Biotechnology Index and the S&P Biotech ETF fell between 3.5% and 4.5%, as did a host of major biotechs.

So what set of comments could have struck such intense fear in the heart of biotech investors? “I’m going to bring down drug prices,” Trump told Time in a post-election interview unveiled today, when the magazine named the president-elect its 2016 Person of the Year. “I don’t like what has happened with drug prices.”

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