Actionable news
All posts from Actionable news
Actionable news in IBB: iShares NASDAQ Biotechnology Index Fund,

Drug and Biotech Stocks Rise as Price Clampdown Fears Ease Under Trump Presidency

How health care investors deal with Donald Trump as the next U.S. president and Republicans maintaining control of Congress -- the outcome of Tuesday's election -- is hard to forecast because few envisioned this scenario playing out.

An early indication: European pharmaceutical stocks like Roche (RHHBY) , Sanofi (SNY) and Novo Nordisk (NVO) were trading higher Wednesday on receding investor worries about a clampdown on prescription drug prices under a Republican-controlled government.

The iShares Nasdaq Biotechnology exchange-traded fund (IBB) which tracks biotech stocks like Gilead Sciences (GILD) , Celgene (CELG) and Biogen (BIIB) , was 6% higher in Wednesday's premarket trading.

A closely followed California ballot initiative, Prop 61, aimed at cutting prescription drug prices also was defeated, further allaying healthcare investors' worst fears.

JUST UPDATED – TheStreet's Biotech Bible! Before you invest one single dime in any biotech stock you have got to KNOW WHAT YOU ARE BUYING! Get THE most comprehensive text covering the 186 biotech companies that have gone public since 2013! There’s nothing else like it for digging into this highly speculative group of stocks. Grab a FREE...