BUZZ-Mylan slumps after Clinton comments on EpiPen price hike

Wed Aug 24, 2016 2:42pm EDT
 
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** Generic drug maker's shares down 3.8 pct at $43.88; drags Nasdaq biotechnology index down for second straight day

** Democratic Presidential candidate Hillary Clinton on Wednesday called on Mylan to voluntarily drop the price of its severe allergy treatment drug EpiPen, which has increased in price by 400 percent in the past decade

** Separately, White House says pharmaceutical firms risk damaging their reputations with big price hikes

** Two U.S. senators ask Mylan CEO Heather Bresch for information on the price increase of EpiPen

** On Tuesday, one lawmaker sought information on product changes to justify higher prices, while another asked for an FTC investigation; FTC did not say whether a probe was underway

** Mallinckrodt, Endo International and Valeant Pharmaceuticals all down

** Up to Tuesday's close, Mylan had fallen 16 pct this year vs 13 pct fall in Nasdaq biotech index