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Shares in several firms fell in response to news that US President Donald Trump was readying an executive order that would link US drug prices to an international average, MarketWatch reported Monday.
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Shares in Cardinal Health as well as drugmakers Alexion Pharmaceuticals, Amgen, Biogen, Incyte and Regeneron Pharmaceuticals all fell more than 2% on the news.
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"Our guess is drug stocks may be initially pressured this week," remarked Jefferies analyst Jared Holz, adding "[however], feedback already suggests investors believe the executive order, if it comes to pass, will only be relevant for a handful of drugs…at least at the onset."
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