Pharma Gets Reprieve From ‘Worst-Case Scenario,’ But Trump Is Still A Question Mark
The pharmaceutical industry was braced for a possible Democratic takeover. But Donald Trump might not be an ally. Meanwhile, pharmaceutical stocks are up on the news of his win.
Big Pharma's Big Question: Is Trump Friend Or Foe?
Should President Donald Trump make drug makers relieved? Or anxious? They’re not sure. (Scott, 11/9)
The Wall Street Journal:
Health-Care Stocks Emerge As Winners From Trump Vote
Health-care companies have emerged as the main gainers from Donald Trump’s win in the U.S. presidential election, despite a broad stock market selloff across the world. The U.S. premarket pointed to a 2% opening loss for the S&P 500 during early European trade, but futures on pharmaceuticals showed sharp rises, led by Endo International PLC, Mylan NV and Perrigo Co. PLC. The Stoxx Europe 600 index was down 0.5%, but the health-care and mining sectors notched 3.5% and 3% gains respectively. All other sectors were in the red. (Sindreu and Iosebashvili, 11/9)
Drugmakers Jump As Republicans’ Victory Eases Regulatory Concern
Health-care stocks surged in European and Asian trading as Republicans’ sweeping victory in the U.S. elections eased concerns that Democrats would require broader regulation and controls on drug prices in the world’s largest market for prescription drugs. Roche Holding AG, the world’s biggest maker of cancer drugs, gained 3 percent in Zurich, while France’s Sanofi climbed 2.8 percent in Paris. The Bloomberg EMEA Pharmaceutical Index jumped 3.7 percent, the most in almost two years, even as the the broader market slumped. Indian generic drugmakers, who sell to the U.S., also climbed. (Krege and Cordeiro, 11/8)
Meanwhile, the industry helped Sen. Richard Burr defeat his opponent —
The Drug Industry Sees A Key Ally In The Senate Prevail
A veteran senator and champion of the biotech sector beat back an unusually strong challenge Tuesday night — thanks in large part to loyal support from the industry. North Carolina Senator Richard Burr, a Republican who has long protected the bioscience companies that drive his state’s economy, overcame a surprisingly robust challenge from Democratic candidate Deborah K. Ross. (Kaplan, 11/8)