November 9, 2016 / 11:02 AM / 2 years ago

BUZZ-As pricing fears fade European healthcare stocks surge

(Updates prices)

** Stoxx 600 healthcare index surges 4 pct, easily outperforming pan-European Stoxx 600 (-0.5 pct)

** The index is on track for the best day in 14 mths; BB Biotech, 2nd top gainer on Stoxx, set for best day since 2009

** “Donald Trump victory suggests a softening of bear case on pharma pricing and Obamacare,” Morgan Stanley analysts say, adding they expect EU pharma stocks to outperform the broader market

** Novo Nordisk (+7 pct), Novartis (+5.5 pct), Roche (+5.7 pct), Shire (+8 pct) boost the index; BB Biotech and Hikma +9 pct are among top risers across Europe

** “We believe that overall a Trump win is positive for the pharma sector in respect of drug pricing as Clinton’s reforms now look almost certainly off the table,” Liberum analysts say

** Similar moves are seen in early pre-market trading in the U.S. pharma sector: Pfizer, Allergan, Teva’s U.S.-listed shares up >4.5 pct

** Bracing up for a Clinton win, Stoxx healthcare index fell 11 out of the last 15 sessions

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