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Sanders tweet causes drug company to lose $400M in a day

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Lobo
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Sanders tweet causes drug company to lose $400M in a day

Post by Lobo on Sat 15 Oct 2016, 4:05 pm

October 14, 2016, 06:16 pm
Sanders tweet causes drug company to lose $400M in a day
By Neetzan Zimmerman

 



Greg Nash
A tweet posted to Sen. Bernie Sanders’ (D-Vt.) Twitter account on Friday afternoon caused the stock of a pharmaceutical company to crash, costing the company millions of dollars.
Sanders told his 2.6 million followers that Ariad Pharmaceuticals Inc. had raised the price of its leukemia drug “to almost $199,000 a year.”
“Drug corporations’ greed is unbelievable,” the Vermont senator tweeted.
Shortly after the tweet, Ariad’s stock lost 15 percent of its value — or $387 million dollars — its biggest intraday decline in over a year, according to Bloomberg.
The drug mentioned in Sanders tweet, Iclusig, helps to treat a rare form of leukemia, and has indeed seen its price raised four times this year alone, to $16,000 for a 30-day pack.
Hillary Clinton had a similar effect on the drug company Mylan, which saw its shares plummet after she accused it of “price gouging” consumers who buy its EpiPen allergy shot.
http://thehill.com/blogs/blog-briefing-room/news/301128-sanders-tweet-causes-drug-company-to-lose-400m-in-a-day

    Current date/time is Sun 11 Dec 2016, 3:59 am