Posted by Michael Wonder on 25 Sep 2019
Impeachment won't scare off drug pricing boogeyman for health sector
25 September 2019 - Drug pricing reform plans likely to proceed, analysts say.
As the focus in Washington turns to congressional Democrats’ move to impeach the president, Wall Street and policy analysts say the biotech and health-care stocks that have been pressured by drug-pricing reform are unlikely to find much respite amid the distraction.
The Nasdaq Biotech Index fell 0.2% Wednesday following a 2.1% drop a day earlier after House Speaker Nancy Pelosi said there would be a formal impeachment inquiry looking at President Donald Trump’s controversial July phone call with his Ukrainian counterpart. The S&P 500 Health Care Index was down 0.5%, falling for a second day in a row.
