BUZZ-Biotechs fall after Clinton plan to address 'unjustified' price hikes

Fri Sep 2, 2016 11:22am EDT
 
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** Biotech stocks down 1-3 pct after Democratic presidential nominee Hillary Clinton promises oversight panel to protect consumers from price hikes on life-saving drugs if elected

** Mylan down 2.3 pct, Celgene 0.5 pct, Bristol-Myers Squibb Co 1.7 percent, Mallinckrodt Plc 1.8 pct

** Clinton has been very critical about price gouging by drug companies; the Nasdaq biotech index is down about 5 pct through Thursday since she called on Mylan to lower price of Epipen on Aug. 24

** Biotechnology index currently up 0.43 pct, boosted largely by Biogen Inc after company's experimental Alzheimer's drug gets "fast-track" designation