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00:00:00
it's good to read that sound the biotech stocks Hillary Clinton going after what she called right gouging in the specialty drug market Monday promising to lay out a plan to stop it weak and announcing a detailed plan to crack down on these expenses we will start by camping how much you have to pay out of pocket for prescription drugs each month , and we're going to hold drug companies accountable as we work to drive down prices writers healthcare correspondent Caroline Huber says that kind of talk has investors running scared and that's it they really hold off and there are cut by taken exile by three and a half percent we lost value in some of the biggest names out there I again lounging her tax Regeneron , for that the issue here is that investors have been worried for at least a year and a half that the government is going to come out and that price controls Clinton's remarks coming on the back of a New York times article highlighting how companies buy up old drugs and relabel them at specialty drugs , then Jack up the price maintenance in the past what happened about four years ago with a three term pregnancy drug it similarly raised a lot of , obviously cannot FTA came out but here we are four years later nothing's changed good humor says Monday's selloff could indicate that a change is coming for real this time what's driving then the decline in the back is really just the idea that after years and years and years , constant surge in biotech value that we may be in for a period when valiant actually declined because they are unable to get the same kind of , the nasdaq biotechnology index closed down roughly four and a half percent I have more to say about this not tomorrow