November 10, 2016 / 8:57 PM / 2 years ago

BUZZ-Specialty drugmaker shares keep post-Trump bounce

** Shares of specialty drugmakers bounce for a second straight day after the presidential election of Donald Trump, outpacing gains broadly for drug and biotech stocks

** Endo International up 7 pct, Valeant Pharmaceuticals’ U.S. shares 4.3 pct, Horizon Pharma 5.9 pct, Mallinckrodt 2.4 pct

** All have posted gains of at least 10 pct over past two days, against 5 pct rise for NYSE Arca Pharmaceutical index

** Pharmaceutical and biotechnology shares soared on Wednesday as Trump’s election calmed investors’ fears of tough action on drug pricing that has pressured the sector for more than a year

** Trump has not focused as consistently on drug-pricing as did Hillary Clinton, while a California ballot measure aimed at reining in pricing also was defeated

** Some specialty drugmakers have been seen as particularly reliant on price hikes

** YTD, stocks still weak: Valeant down 83 pct, Endo down 71 pct, Mallinckrodt down 12 pct, Horizon down 8.6 pct against DRG’s nearly 8 pct decline

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