Biotech Walloped On Clinton Drug Price Controls Threat

It was déjà vu all over again on Wall Street on Sept. 21 when biotech stocks took a beating after a powerful Washington politician vowed to take action to control prescription drug prices – a whipping reminiscent of March 2014 after three Democratic lawmakers set off a frenzy by suggesting they may pursue a similar path when they called on Gilead Sciences to explain its $1,000-per-pill price for its hepatitis C virus (HCV) medicine Sovaldi (sofosbuvir).