Posted by Michael Wonder on 07 Mar 2017
Trump sends pharma stocks down with new tweet on drug prices
7 March 2016 - President says he’s working on a ‘system’ to reduce prices.
President Donald Trump jumped back into the debate over drug pricing on Tuesday, sending pharmaceutical stocks down again with a tweet promising to lower medicine costs for American people.
In a tweet shortly before 9 a.m. New York time, Trump said he’s working on a “new system where there will be competition in the drug industry.”
Mylan, the maker of the EpiPen allergy shot that was at the center of the public outrage over drug prices last year, declined 1.5% to $43.36 at 12:18 p.m. in New York, while Perrigo dropped 2.5% and Allergan fell 1.5%.
