Specialty Pharma Stocks Tumble in Fear of California's Drug Price Referendum
Big Pharma has more to worry about than just Hillary Clinton.
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For pharmaceutical companies, there's more at stake on November 8 than whether Donald Trump or Hillary Clinton emerges victorious in the presidential election.
Also to be decided in the voting booth is California's Proposition 61, a state ballot measure that would require state agencies to purchase drugs at prices close to those enjoyed by the Department of Veteran's Affairs. Recent polls performed by Field/IFS and USC/Los Angeles Times suggest the initiative, known as the California Drug Price Relief Act, is favored by voters.