Hillary Clinton tweet crushes bio-tech stocks

[Renew Deal]

Source: CNN

Biotech stocks tumbled on Monday after Clinton fired off a tweet about "price gouging" in biotech drugs.

Prices had skyrocketed overnight to $750 from just $13.50 each for a drug called Daraprim -- a 62-year-old drug used to treat a life-threatening parasitic infection. Clinton sent out a link to a New York Times article about it.

Clinton promised to unveil a plan on Tuesday to take on "outrageous" price increases like that one. Her campaign did not immediately respond to a request for comment on specifics.
<snip>

Biotech stocks helped knock the Nasdaq into the red on what had been an otherwise positive day for U.S. stocks. The nine biggest losers on the Nasdaq 100 were all biotech stocks, led by BioMarin Pharmaceutical (BMRN) and Biogen (BIIB), both of which tumbled 5% a piece. Other big biotech names under pressure include Regeneron Pharmaceuticals (REGN), Gilead Sciences (GILD) and Celgene (CELG).
<snip>

Read more: http://money.cnn.com/2015/09/21/investing/hillary-clinton-biotech-price-gouging/index.html

---

What's going on with these pharmaceuticals must be pretty widespread if one tweet can knock down an entire industry.

[Android3.14]

1. "Her campaign did not immediately respond to a request for comment on specifics"

Probably need to run it by a focus group...

[Darb]

2. Weak sauce you got there.

Obviously, they think that she has some influence, or they wouldn't have sold. Which means exactly what we have been saying all along, she can and will win.

Most here will read that as a good sign, many will read it and weep.

[Android3.14]

8. Spill on aisle five

"We need housekeeping to go to aisle five"

Ms. Clinton has the backing of the wealthy elites who wish to suck the life out of regular folks. She cannot speak in specifics because her corporate masters won't let her.

If you ever wish to discuss policy or ethics, please proceed.

So many low-count HRC defenders, and so quick, too.

[upaloopa]

16. I am a regular folk the elites can't possibly

make up Hillary's 41% support. There aren't enough of them.

I am a regular folk who supports Hillary. Not all regular folk support Bernie because he only has 25% support and I know for a fact there are a lot more regular folk out there.

[bvar22]

22. Regular folks?.. like "The Middle Class"..you know Firefighters and such?

In 2008, Hillary did not have a clue WHO the Middle Class was:

Of course, we later found out that Obama was not being honest with us.
He never again mentioned "Raising the Cap" after he won the Democratic Primary.
He switched from that to "Austerity for the Middle Class" overnight.

[Spitfire of ATJ]

36. That was then, this is now....

You're supposed to be...



If you aren't there's something wrong with you.

[bvar22]

38. LOL.

I'll choose "something wrong with me".

[24601]

45. Or, there are too many things wrong with her. n/t

[wordpix]

72. mainly, she's taken $ from Wall St/corporatists/foreign nations for Clinton Found

if not her campaigns. Feel the bern!

[nichomachus]

52. And some are

[Spitfire of ATJ]

54. I wonder if she practiced the oath of office in a mirror.

[RufusTFirefly]

56. I always had a hunch that something was wrong with me.

Guess I was right.

[SusanaMontana41]

33. You "know for a fact," huh? Then it should be easy to prove.

Last edited Mon Sep 21, 2015, 05:21 PM - Edit history (2)

Prove it.

[upaloopa]

37. You first

[SusanaMontana41]

49. I didn't make the claim,

you did:"Not all regular folk support Bernie because he only has 25% support and I know for a fact there are a lot more regular folk out there."

Defend it.

[leftofcool]

55. Uh, try the latest polls. That should help you.

[SusanaMontana41]

66. Tag team!

How intimidating.

I'm not persuaded, if that's the goal of Team Hillary.

[Darb]

20. Uh, wrong again.

Some of us support both Hillary and Bernie. Will vote either way in the general. We'll see about the primary. But what I and those like me will not do is carry teabagger water. What's your excuse for sounding curiously like a bagger? I am not saying you are a bagger mind you, so back off the alert button, just saying that that "focus group" horseshit sounds very baglike.

Any explanation?

As for your "low-count" comment, I'd be willing to bet I've been around here a hell of a lot longer than you think, so pitch a tent.

[winstars]

35. "low-count HRC defenders" WTF is that supposed to mean? Just because someone has not been

here since 2001(like me) means exactly nothing. There are trolls around that are new-ish but they generally talk up Puty... Even when someone is trolling there are ways other than the casual insult to call them out.

Whether or not you like Bernie or HRC or Martin O'Malley or even The Rent Is Too Damn High guy, we should not talk to each other like that here on DU. We just shouldn't.

Why would anyone want to discuss policy or ethics when that discussion is prefaced with a elitist insult about how many posts someone has here?

I just hope my post count is high enough for you to hear me.

I saw what you did there.

[leftofcool]

58. Your post count in just fine.

Ignore certain people because these are the same people that will complain about Hillary no matter what. If she found the cure for cancer tomorrow some Hillary hater would say she should have found it sooner. These are also the same people who whine about being part of the 99% then brag about putting bernie stickers on the back of their 30K VW Jettas. Ignore, ignore, ignore.

[SusanaMontana41]

67. We're starting to sound like Congress.

Welcome to DU!

[emulatorloo]

76. She and Bernie voted the same 93% of the time

when they were in the Senate together.

Yes she is too conservative for me and Bernie is very close to my ideology.

I support Sanders but the demonization of HRC on DU is ridiculous and OTT. Pretty sure Bernie would agree with my assessment of DU.

[Android3.14]

77. Her 7% voting difference with Bernie meant death and prison for hundreds of thousands

She supported policies that put countless thousands of young black men into prison, she kowtows to the wealthy elites, and with her Iraq vote she participated in the deaths of hundreds of thousands of people.

If you think that criticism of these decisions is ridiculous, then we really have nothing more to say to each other.

I cannot fathom why anyone would defend this travesty of leadership.

[emulatorloo]

78. I seldom see criticism, I see character assasination

Rarely do I see 'HRC's policies are bad'. Instead I see 'HRC is an evil person.' Followed up with vile armchair psychoanalysis and hyperbolic ranting.

Bernie says she is a friend and his word is good.

As for your personal comment, I have no interest in taking litmus tests from someone who names himself for a Google product.

A Corp mostly known for spying on people's internet usage and selling us to the highest bidder.

[Android3.14]

79. Insults are unnecessary

I've used the handle, Android3.14 (based on my first name, love of science fiction and interest in mathematics), for much longer than Google has existed, much less since the company has been marketing a cell phone. One might as well dismiss someone's comments because he or she has the last name of McDonald or Walton.

My criticism is that her votes have resulted in the deaths of hundreds of thousands, kept thousands of young black men in prison, and she supports the wealthy over the needs of the rest of us, just to name a few. This lack of good judgement, during a time when we absolutely needed ethical and effective leadership, disqualifies her from earning the vote of any ethical informed person.

If you feel that criticism is false, then please debate those points. Otherwise your insults are puerile.

[Adrahil]

84. This is incredible....

Instead of encouraging her in efforts, you just come and crap in the thread. Seriously. <shakes head>

[Laser102]

30. I read it as a good sign.

[Dustlawyer]

41. Talk is cheap (except for today's stock losers)! She is trying desperately to counter the image

of being Wall Streets pick. She doesn't have to do anything about this once in office, she just has to appear that she will.

[ion_theory]

47. Well said...

This is why people are looking at Trump, Carlson, and Carly F. They are sick of hearing people make empty promises and subscribe to the 'talk is cheap' montra. Also why so many on the left are flocking to Bernie because of all the candidates he is the one who actually puts into action what he preaches.

[LanternWaste]

70. Your premise seems indicative of all politicians,

Your premise seems indicative of all politicians, though no doubt, our biases will deny that in favor of the candidate we ourselves support

[Dustlawyer]

71. Almost every single one. I will go on record that I believe that Bernie is shooting as straight and

telling us what he actually believes. Of course that makes me fall into your statement, so be it, but I agree it seems to be a job requirement to at least overstate what you can or will do once in office. Unfortunately, most know when they say it that there is no way they will do it, in fact their donors have already said the opposite. Those are the politicians that I reserve my contempt for. Overselling yourself is one thing, lying outright is another. I know that Bernie speaks from the heart, so if he fails to do something he talked about in the campaign I will start from the assumption that he COULD NOT, not WOULD NOT get it done.

[nichomachus]

5. Only one? That would be ground breaking in and of itself. n/t

[Darb]

21. More weak sauce, plus he beat you to it.

Get on it.

[nichomachus]

23. Weak sauce -- is that "today's phrase" from the Hillary talking point email? /nt

[dorkzilla]

42. Been the buzz phrase for the past couple of weeks nt

[nichomachus]

43. Use it 10 times online

And you get a gold star for your "Ready for Hillary" button.

[dorkzilla]

51. I think they meant for Helen Reddy to endorse her (“Reddy for Hillary - I AM WOMAN”) and then...

they found out she was Australian. So they had to hire a bunch of consultants to paint the top of the first “d” out and change it to an “a”.

(ETA, yes I know she was naturalized but it didn’t fit the “joke”).

[LiberalArkie]

26. I think the stocks tanked because she said something that John Doe did not know. Good for her.

Most of these companies doing that were bought by hedge fund operators wanting to make their money back quickly (as usual). Hopefully her son-in-law isn't one of them.

[LanternWaste]

69. That seems... irrelevant at best

That seems... irrelevant at best.

Representing the sentiments of grade school petulance is not the best form of argument available to the rational mind.

[nichomachus]

3. Another irresponsible tweet from whoever runs Hillary's Twitter group

If you have a plan, give it to us -- unless you're going to develop it tonight at the kitchen table.

If she has a plan, she should reveal it today. If she doesn't have a plan, I hope she's not going to go off half-cocked with something her consultants, pundits, pollsters, and focus groups hammer together in a couple of hours. I hope she is going to have her handlers devote more than a couple of hours to something this far-reaching.

Typical Clinton. I imagine it will be weak sauce.

[louis-t]

4. Trust me, her tweet is not responsible for stocks tumbling.

One jackass who thinks he can become a billionaire with one move by assuring that hundreds if not thousands will die because they can't afford, or their insurance company will not pay for needed drugs had more to do with this. Raising the price by 5,000% will insure that less of the drug will be sold. You know there will be copycats.

[nichomachus]

6. I've had the same thought

She was talking about pharmaceutical companies and it's biotech stocks that are tumbling. Two different industries altogether.

The important thing to remember is that 90 percent of stock market decisions are made by computers. If one stock hits a certain price point, the computers "get nervous" and things start falling all over the place.

[Skwmom]

39. But it helps create a false narrative that she'll take on the corporations.

Whether it's biotech or drugs. That's what I thought as soon as I heard it and just look at the posts.

Is there anything that is not fake about the Clinton campaign?

[KT2000]

19. others preceded this ass

this is just the most outrageous. Others will surely follow when the financial segment takes over the industry. They can even bet they will bankrupt themselves with such tactics and they will still be the winners. Tough on the 99% though.

[7962]

63. The jackass is Martin Shkreli. The biggest piece of shit on Wall Street

I have yelled from the mountaintop about this guy for YEARS. He tried to run a company out of business by shorting it; trying to get the FDA to NOT approve a better breast cancer diagnostic drug. He set that company back 2 yrs. The company, Navidea, enventually DID get approval, but with much added costs.
The SEC needs to hang this guy from a streetlamp

[wordpix]

74. I agree, this guy needs to be investigated.

[blm]

7. Not the tweet, but, the NYT article exposing the profiteers involved.

DU had it posted here yesterday.

[markpkessinger]

80. Ding! Ding! Ding!

Investors got nervous because the practice had suddenly fallen under the media's spotlight!

[kelliekat44]

9. Yes, to hell with biotech drug stocks if they soar on the backs of patients who bankrupt themselves

because of high drug prices. But it wasn't Hillary's tweet that sent the stocks tumbling. It over-prices drugs that are calling attention to the gouging and I for one am happy that Ms. Clinton tweeted her remarks. It's time to reign in a lot of big Pharma and the only way to do it is from the customers. the Insurance-Pharma conglomerate needs to be examined closely and broken up just like the need to break up big banks. It's and incestuous relationship between the medical profession (docs)-pharmaceutical companies.-- and health insurance companies. Next President must address this.

[nichomachus]

12. The people you're so made at aren't bioetch companies

The price hike was done by a pharmaceutical company -- completely different industry.

[wordpix]

75. next pres is not king---Congress must address the failure to allow drug cost negotiations

The fricking DEM Congress refused to ensure negotiated drug prices in 2010---Obama wanted these to keep costs down. Now we have what we have. The R's voted against cost containment along with some Dinos.

[Android3.14]

10. It just crushes it?

Yes, a Clinton tweet is like a giant truck at the auto show. Her every utterance is to industry what a six-year-old's tennis shoe is to a slug. They come flying out of the ether like the Nazi car drop in The Blues Brothers

She is...
The Smooshinator

[Brickbat]

11. ROFLMAO.

[nichomachus]

13. Why -- because your pension or 401K took a major hit today?

I can see where that might amuse you.

[Brickbat]

15. I'm laughing at the headline, actually.

[nichomachus]

18. I laugh at the naiveté of DU posters in general when it comes to the stock market

One tweet from Hillary is supposed to have brought down biotech stocks. Bull.

However -- she was tweeting (irresponsibly in my opinion) about pharmaceutical companies, not biotech companies. Pharmaceutical stocks have hardly budged today. Slightly down, but not enough to send anyone into a tizzy. About 90 percent of buy-sell orders on the markets are run by computer algorithms -- not the old cartoon image of a guy in a tuxedo yelling "Buy. Sell. Buy. Sell." into a telephone.

I also am amazed/amused when DUers get all giggly when the stock market goes down. They don't realize that while this may hurt some large investors, it will have a greater impact, as I noted, on 401Ks and pension funds of working people. It will also hurt cities and towns and could lead to a diminution in local services if budgets are adversely impacted. It will also cause consumer prices to rise if large corporations are taking a hit on their investments.

So, the stock market directly and indirectly affects everyone -- not just fat cat investors.

[Brickbat]

40. Alrighty then.

[Ed Suspicious]

50. Yes. They piggy cats have turned the 99% into "owners" rooting

for higher prices on goods and lower wages for thos producing goods. What a fucking system!

[7962]

64. You are correct. Just over 1/2 the country owns stock directly.

Others get pensions from publicly traded companies.
If you ignore the market, you set yourself up for a poor retirement

[brooklynite]

14. Why, it's almost as if they thought she might get elected President and crack down on them...

[Wilms]

17. That was my guess.

And if she wound up smacking the gougers in their wallet, it is something positive I get to say about HRC.

[bvar22]

25. This is just campaign rhetoric.

Like Obama, Hillary has no intention of "taking on" the 1%ers,
but during the Campaign season, will say anything she thinks will get her elected.
Bernie has a solid Track Record of actually Fighting FOR the Middle Class & Poor.
Hillary has zero track record of that.

[nichomachus]

24. OMG -- thanks for the laugh

Hillary crack down on the One Percent? Oh, please stop, my sides hurt. If she has a plan, why doesn't she give it to us today -- not tomorrow? Is she going to spend the next few hours coming up with a comprehensive plan to "crack down" on an industry that pretty much owns her and the Congress? Tee-hee.

[brooklynite]

27. You must have been pretty pissed at her when she voted for the Bush Tax cuts?

Oh, right, she voted against them.

[nichomachus]

46. So, they didn't pass?

[brooklynite]

53. I assume you're being facetious...

...but why let facts get in the way of some good stereotyping?

[nichomachus]

59. So it was a "safe" no vote

For political effect not based on principle

[LuvLoogie]

83. why did Bernie vote for the ACA

while his single-payer bill languishes? Just window dressing I suppose knowing it would never pass. Why dd he sell out to big pharma and the oligarchs?

[Spitfire of ATJ]

28. I wonder if she's going to assure the industry that she didn't mean it.

[Aristus]

29. This gives Hillary the power to say:

"Stop price-gouging the American people or I will fuck your shit up!..."

[Truprogressive85]

31. Big Pharma is laughing

Ask Sally Susman if HRC will stop price gouging

or other donor from the Big Pharma

[Justice]

32. An completely irresponsible headline - thank you HRC for standing up!!!

If Hillary Clinton could have that effect on the market with one tweet, they must be really, really afraid of her and we should make her President.

But seriously folks if you are criticizing Hillary Clinton on this Tweet, who are you for - hedge funds, biotechs, billionaires, people who buy old generics and relaunch them as fancy drugs with high prices?

Who are you against? People with AIDS and HIV or who have suppressed immune systems? The ones who will have to pay thousands to get this drug they depend on - or go without it and die?

Are some on DU really so against Hillary that we will call her out for this rather than support her for speaking out about this??????

"A biotech company founded by a former hedge fund manager recently purchased the rights to a critical antiparasitic drug and jacked up the price by more than 5,000%. Startup Turing Pharmaceuticals acquired Daraprim, a drug used to treat toxoplasmosis, in August. Toxoplasmosis is a disease caused by a common parasite that can be deadly, especially for those who are immunosuppressed." See http://www.businessinsider.com/turing-increases-price-of-darapim-2015-9.

It is a thing - people buying old drugs and jacking up the prices. The people who are doing it are hedge fund people and others who are looking for a quick buck off someone else's back -- and you who call out HRC must support them.

Rodelis Therapeutics acquired Cycloserine - "treats dangerous multidrug-resistant tuberculosis, and increased in price to $10,800 for 30 pills from $500 after acquisition. Scott Spencer, general manager of Rodelis, said the company needed to invest to make sure the supply of the drug remained reliable. He said the company provided the drug free to certain needy patients."

"Valeant Pharmaceuticals acquired two heart drugs, Isuprel and Nitropress, from Marathon Pharmaceuticals. Raised prices by 525 percent and 212 percent, respectively. Marathon itself had acquired the drugs from another company in 2013 and had quintupled their prices.

Senator Bernie Sanders and Representative Elijah E. Cummings, Democrat of Maryland wrote to Congress about Valeant - so wait, what, Bernie thinks this is bad also - oh, NOW you are outraged about it?

See https://www.bostonglobe.com/business/2015/09/20/huge-overnight-increase-drug-price-raises-protests/DH94tAOlMzZVDIZj55Y6NP/story.html

[greyl]

34. Yes, "after" doesn't mean "because of". nt

[mcar]

57. Amazing, isn't it?

Seems HRC is bad no matter what she does.

[nichomachus]

60. She is the master of missteps. n/t

[ion_theory]

44. I'm a hem/onc RN coordinator who is responsible for ordering our drugs..

It amazes me how much the anti-neoplastic (chemo) drugs fluctuate on a weekly basis. This is exactly why the market does not solve all problems and needs to be separated from certain aspects of society.

[nichomachus]

48. Exactly

Healthcare is too important to be left to corporate greed. If Hillary calls for a return to the days -- pre-1970 -- when it was illegal to make a profit off healthcare, I will applaud her.

Anything else she comes up with will be

1. Mealy-mouthed
2. "Weak Sauce"
3. Empty campaign rhetoric
4. All of the above.

[Enrique]

61. that headline is unreal

I thought it was a joke.

[7962]

62. There is ONE person to blame for this shit: Martin Shkreli Look him up.

I've known about this guy for over 5 yrs. He SHOULD be in jail. I dont know why the SEC hasnt put a stop to this worthless piece of shit. He's been sued, also currently being sued by the company he started and was CEO. He short sells companies and then publishes lies about them so he can force a price drop.
I guarantee he is short the biotech sector right now, before he made this price announcement.

He deserves to have the shit beat out of him

[Beacool]

65. Good, Martin Shkreli deserves it.

I was appalled when I read this article on DM.

http://www.dailymail.co.uk/news/article-3243938/Ex-hedge-funder-32-hated-man-internet-defends-jacking-prices-AIDS-medication-5500.html

What a greedy bastard!!!

[JustABozoOnThisBus]

82. Shkreli basks in the hatred ...

... he's a gloating sociopath.

Not unlike a certain Republican front-runner.

[mhatrw]

68. What a crock of shit. n/t

[wordpix]

73. "Turing Pharmaceuticals, a privately held startup that's run by former hedge fund manager"

The CEO looks like he's 25 y.o. WTF? SEC should look into this kid.

[markpkessinger]

81. My dog's bark caused it to rain . . .

No, seriously. My dog barked, and a few minutes later, it began raining. What other possible explanation could there be?

As was pointed out above, this likely had far more to do with the front page article in The New York Times yesterday, which was then picked up and mirrored by many other outlets, than with anything Hillary (or any candidate) did or did not tweet. Investors suddenly got nervous that light was being shed on this egregious, but very lucrative, practice.