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Friday, July 5, 2019

Drug stocks slip after Trump talks up `favored nations’ plan

Pharmaceutical stocks dip after President Trump says his administration is working on a system that would allow the U.S. to buy drugs based on the lowest prices paid by other countries.
“We’re working on right now a favored-nations clause,” he told reporters at the White House.
State Street’s Health Care Select Sector SPDR Fund (XLV -0.8%); Johnson & Johnson (JNJ -1.1%), Pfizer (PFE -1%), Eli Lilly (LLY -1.2%), Merck (MRK-1%), Abbot Labs (ABT -0.9%).

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