, Columnist
The Biotech Rally Might Have Legs
Cooling political rhetoric about drug prices could spark much-needed M&A.
President Donald Trump attends a meeting about health care at the White House in Washington, DC, on March 13, 2017. Biotech stocks have rallied on hopes he will be lenient about drug-pricing practices.
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From 2010 to mid-2015, drug stocks soared to record heights on the back of massive mergers and seemingly boundless optimism.
Then, throughout the 2016 election campaign, worries about political pressure to lower drug prices put biotech stocks in a prolonged slump.