Express Scripts Shares Briefly Hit By Hillary Clinton Tweet
Express Scripts Holding Company (NASDAQ: ESRX) shares sold off from an intra-day high of $72.90 to the low $72 range on Monday after a tweet from Presidential candidate Hillary Clinton referenced an article about the company's involvement in drug price changes.
"There is no excuse for letting greed get in the way of people's health. Companies like these should be ashamed," Clinton tweeted, linking to an article in NPR about how price wars among drugmakers are lowering costs, but forcing some to change medications that may not "work as well for them."
NPR's article told the story of ADHD sufferer Tim Kilroy, who wasn't allowed to pay sticker price for brand-name medication because his pharmacy benefit company "refused to pay."
Kilroy's particular benefit company was UnitedHealth Group Inc (NYSE: UNH).
"I thought, 'How dare you.' How dare this company that I pay money to tell me how to manage my health care. I was really, really angry," Kilroy told the outlet. He added that he ultimately changed insurers to take Ritalin instead of its generic alternative.
Drug prices will continue to be a key issue in the upcoming Presidential election, something biotech and healthcare traders should keep an eye on. It'd also be worth it to monitor Clinton's Twitter account.
Shares of Express Scripts last traded at $72.31 in Monday's after-hours session.
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