The pharmaceutical industry is seeing red, courtesy of President Donald Trump—but less of it than usual.
Major biotech stock indices like the NASDAQ Biotechnology Index and the S&P Biotech ETF fell anywhere from 1.8% to 3.5% in early Tuesday trading following the president’s latest comments slamming high drug prices and pledging to keep runaway biopharma gouging in check.
“Once healthcare reform is done and Obamacare has been repealed, it will be time to get to work on medicine, bringing down the cost of medicine by having a fair and competitive bidding process. Some people think that’s just as important as healthcare,” said Trump during a speech in Louisville, Kentucky Monday night.
