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Trump Just Brought Big Pharma To Their Knees And Cost Them Billions With These 4 Words
Friday, January 13, 2017 6:44
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Lucinda Shen for Fortune reports, Pharmaceutical companies are “getting away with murder,” President-elect Donald Trump said during his Wednesday press conference — and the sector didn’t get away unscathed.
After Trump mentioned drug prices and pharmaceutical companies’ tax inversions, the nine biggest pharmaceutical companies by market cap on the S&P 500 shed roughly $24.6 billion in 20 minutes.
That includes the market caps of Johnson and Johnson, Pfizer, Merck, Amgen, AbbVie, Bristol-Myers Squibb, Gilead, Celgene, and Eli Lilly.
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