Big Biopharma hit as investors wait for Trump’s drug price plan

Major drug makers are under water nearing the close as skittish investors move the sidelines ahead of President Trump’s plan to peg Medicare reimbursement to the lowest ex-U.S. prices from a select group of countries.

ETFs: BIB, GRX, THW, BME, BIS, IXJ, ARKG, IDNA, XLV, PJP, XBI, IHE, XPH

Takeda (TAK -0.3%), Bausch Health Companies (BHC -4.4%), Roche (OTCQX:RHHBY -1.9%), AbbVie (ABBV -1%), Allergan (AGN -0.3%), AstraZeneca (AZN -1.8%), Bristol-Myers Squibb (BMY -3.5%), GlaxoSmithKline (GSK -0.6%), Johnson & Johnson (JNJ -1.1%), Eli Lilly (LLY-4.4%), Merck (MRK -4.9%), Novo Nordisk (NVO -3%), Novartis (NVS-1.5%), Pfizer (PFE -2.7%), Teva Pharmaceutical Industries (TEVA -2.5%)

https://seekingalpha.com/news/3477237-big-biopharma-red-investors-wait-trumps-drug-price-plan