Potential Fallout From Calif. Ballot Initiative Has Pharma Sweating The Elections
A measure to curb drug prices, from such an influential state, could create a ripple effect for the industry that threatens its current status quo. Meanwhile, Valeant announces more price increases.
The Wall Street Journal:
The Biggest Pharma Election Risk Is In California
The possibility of Democrats capturing the presidency and Congress is worrying enough for pharmaceutical and other health-care investors. But that isn’t the full extent of risk that shareholders face this election season. ... Most of her proposals would require an act of Congress to enact, which becomes more likely the better Democrats do at the voting booths.There are risks elsewhere too, though. California voters are set to weigh in on a referendum known as Proposition 61. (Grant, 10/16)
The Wall Street Journal:
Valeant Sets Price Increases For Some Drugs
Valeant Pharmaceuticals International Inc. on Friday said it was raising the prices of its stomach, neurology and urology drugs from 2% to 9%, effective immediately. The company also said it wouldn’t increase the prices of its eye and skin drugs at all this year. Yet Wells Fargo Securities said Valeant raised the price of three eye drugs in September, each by 9.9%. (Rockoff and Steele, 10/14)