Bernie Tweets. Big Pharma Pays.
Bernie Sanders tweet sends shares of Ariad Pharmaceuticals down 15%
Drug corporations' greed is unbelievable. Ariad has raised the price of a leukemia drug to almost $199,000 a year. https://t.co/EB4nEPxP2G
- Bernie Sanders (@SenSanders) October 14, 2016
The stock ended the day down about 14.8 percent at $11.14 a share.
Ariad did not immediately respond to CNBC's request for comment.
The key biotech ETF has fallen 21 percent in 2016, as the sector faces renewed criticism on the campaign trail. Last month, Hillary Clinton proposed a consumer response team that would monitor drug prices and impose penalties for unjustified price increases.
"Over the past year, we've seen far too many examples of drug companies raising prices excessively for long-standing, life-saving treatments with little or no new innovation or R&D," Clinton said in a statement.
Even with Friday's decline, ARIAD shares have surged 78 percent so far this year.
Source
Tweet
Other sources are saying it cost them 378-400 Million, is anyone sad for them?
Drug corporations' greed is unbelievable. Ariad has raised the price of a leukemia drug to almost $199,000 a year. https://t.co/EB4nEPxP2G
- Bernie Sanders (@SenSanders) October 14, 2016
The stock ended the day down about 14.8 percent at $11.14 a share.
Ariad did not immediately respond to CNBC's request for comment.
The key biotech ETF has fallen 21 percent in 2016, as the sector faces renewed criticism on the campaign trail. Last month, Hillary Clinton proposed a consumer response team that would monitor drug prices and impose penalties for unjustified price increases.
"Over the past year, we've seen far too many examples of drug companies raising prices excessively for long-standing, life-saving treatments with little or no new innovation or R&D," Clinton said in a statement.
Even with Friday's decline, ARIAD shares have surged 78 percent so far this year.
Source
Tweet
Other sources are saying it cost them 378-400 Million, is anyone sad for them?