Page 12 - Martin Shkreli Case Study
P. 12
Political Criticism
Hillary
Clinton,
who
announced drug price reforms that will be a key part of her presidential
campaign, described the Daraprim increase as outrageous “price
gouging”. Fellow Democrat candidate Bernie Sanders moved to add
Daraprim to an ongoing probe on Capitol Hill.
The United States has no price controls on medicines even though such
caps are common in Europe.
On Wall Street, biotech shares fell sharply on Monday after Democratic
presidential candidate Hillary Clinton pledged to take action against firms
hiking prices for specialty drugs.
As with the US in the UK Clinton’s comment, sent the next day shares of
US biotechnology companies down. It was later reported that she was
proposing a $250 monthly cap on prescription drugs for patients with
chronic or serious medical conditions. The impact of her comments
spread to European drugmakers with the effect that In the UK, shares of:
- GlaxoSmithKline and AstraZeneca fell by more than 3% and
- Shire, the Irish biotech company, dropped more than 4%.
