Profile image
By The Shark Tank (Reporter)
Contributor profile | More stories
Story Views

Last Hour:
Last 24 Hours:

Big Pharma Loses During Trump Conference

Thursday, January 12, 2017 11:26
% of readers think this story is Fact. Add your two cents.

Yesterday, President-elect Donald Trump held a press conference that had everyone talking. During the conference, Trump spoke about pharmaceutical companies and said that they were “getting away with murder” when it came to high drug prices and the companies’ tax inversions. As a result, this didn’t fare too well with the companies.

After Trump’s criticism, nine of the biggest pharmaceutical companies by market cap on the S&P 500 lost about $24.6 billion in a mere 20 minutes as reported by Fortune. The list includes Johnson & Johnson, Pfizer, Merck, Amgen, AbbVie, Bristol-Meyes Squibb,  Gilead, Celgene, and Eli Lilly.

It’s reported that shares of Celgene have dropped 3.5% since Wednesday afternoon; Johnson & Johnson fell 1.61%; Bristol-Meyers fell 5.5%; Pfizer went down 2.75%; Merck went up 1.67%; Amgen fell 2.27%; AbbVie went down 4.2%; Gilead went down 2.3% and Eli Lilly dropped 2.6%.

One thing to note is that Merck’s stock has managed to rise despite the effect of Trump’s speech because the FDA announced it was speeding up the review of a lung-cancer treatment.

The post Big Pharma Loses During Trump Conference appeared first on Shark Tank.


We encourage you to Share our Reports, Analyses, Breaking News and Videos. Simply Click your Favorite Social Media Button and Share.

Report abuse


Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories



Top Global


Top Alternative




Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.