BUZZ-Biotech stocks: Falls on Hillary Clinton's monthly cap proposal

Tue Sep 22, 2015 11:34am EDT
 
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** Nasdaq Biotechnology Index down about 3 pct; S&P health care down 1.35 pct

** Democratic presidential candidate Hillary Clinton will propose on Tuesday a $250 monthly cap on prescription drugs to stop what she calls "excessive profiteering" by pharmaceutical companies

** Valeant Pharmaceuticals International Inc down about 5 pct, Gilead Sciences Inc down 2 pct, AbbVie Inc down 3 pct

** Biogen Inc down 1.5 pct; Johnson and Johnson down 1 pct; Celgene Corp down 3 pct

** Retrophin Inc down 10 pct; among the top percentage losers on the Biotech index

** Biotech stocks slumped on Monday after Clinton tweeted her intent to tackle unnecessarily high prices in some drug markets

** Up to Monday's close, the Nasdaq biotechnology index had risen 12 pct