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Drug sector on the move after Trump speech

Published 05/11/2018, 03:23 PM
© Reuters.  Drug sector on the move after Trump speech
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  • Not included in the president's speech, note Adam Feuerstein and Damian Garde was the long-feared call for Medicare to negotiate lower prescription drug prices. Also missing, they say, was the loud rhetoric toward pricing that had been a feature of his presidential campaign and early months in office.
  • Instead, most of the tough talk was directed at the middlemen who negotiate drug costs for insurance companies, and pharma players have no problem with that.
  • XLV, IBB, and IHE are all at session highs, ahead 1.6%, 3.2%, and 2.15%, respectively.
  • Previously: Trump speech on drug prices light on specifics (May 11)
  • Now read: Biotech Has Bottomed


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