Impeachment Won't Scare off Drug Pricing Boogeyman for Health Sector
- Drug-pricing reform plans likely to proceed, analysts say
- Biotech, health-care stocks are trailing the S&P 500 in 2019
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As the focus in Washington turns to congressional Democrats’ move to impeach the president, Wall Street and policy analysts say the biotech and health-care stocks that have been pressured by drug-pricing reform are unlikely to find much respite amid the distraction.
The Nasdaq Biotech Index fell 0.2% Wednesday following a 2.1% drop a day earlier after House Speaker Nancy Pelosi said there would be a formal impeachment inquiry looking at President Donald Trump’s controversial July phone call with his Ukrainian counterpart. The S&P 500 Health Care Index was down 0.5%, falling for a second day in a row.