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Hillary Clinton Blog Post Hits Valeant Stock For 9% Loss Without Revealing New Policy

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Hillary Clinton Blog Post Hits Valeant Stock For 9% Loss Without Revealing New Policy
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A blog post on Hillary Clinton's website knocking high prescription drug prices sent Valeant Pharmaceuticals Intl Inc (NYSE: VRX) stock bouncing down nearly 9 percent in after-market action.

The post detailed how Clinton read aloud a letter from a citizen who struggled to afford migraine treatment drugs that Valeant had marked up. After Clinton learned of the citizen's plight, she promised to combat "predatory pricing" from pharmaceutical companies.

However, none of this information is new. Clinton has targeted the pharmaceutical industry for price-gouging practices since her push for health care reform in the early 1990, and has reiterated her stance on the 2016 campaign trail. The only new thing in play here is this blog post.

If the market is rational, investors can expect shares to return to normal soon. If investors are skittish, however, pharma stocks might trend down as the 2016 election ramps up and health care—especially the cost of prescription drugs—becomes even more prominent in the national discourse.

Shares of Valeant appeared to recover, and were trading up about 0.5 percent in Friday's pre-market session.

Posted-In: Hillary ClintonNews Health Care Movers General Best of Benzinga

 

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