Why Weight-Loss Developer Stocks Tumbled on Tuesday
Makers of weight-loss drugs, the hottest segment of the pharmaceutical market just now, weren't looking so hot on the stock exchange Tuesday. A pronouncement from President Trump about the category drove their share prices down, although not to bargain-basement levels.The company most associated with obesity treatments, Denmark-based Novo Nordisk (NYSE: NVO), closed the day with a nearly 4% drop in its share price. Two would-be rivals currently hard at work trying to bring such products to market, fellow European drug maker Roche Holdings (OTC: RHHBY) and U.S. company Viking Therapeutics (NASDAQ: VKTX), fell by nearly 3% and 2%, respectively.One of the current initiatives from the busy White House is an effort to drive down drug prices. That seems to be one of its top agenda items for this week; it kicked off Monday afternoon with Trump signing an executive order demanding lower drug prices from manufacturers. Continue reading
Makers of weight-loss drugs, the hottest segment of the pharmaceutical market just now, weren't looking so hot on the stock exchange Tuesday. A pronouncement from President Trump about the category drove their share prices down, although not to bargain-basement levels.
The company most associated with obesity treatments, Denmark-based Novo Nordisk (NYSE: NVO), closed the day with a nearly 4% drop in its share price. Two would-be rivals currently hard at work trying to bring such products to market, fellow European drug maker Roche Holdings (OTC: RHHBY) and U.S. company Viking Therapeutics (NASDAQ: VKTX), fell by nearly 3% and 2%, respectively.
One of the current initiatives from the busy White House is an effort to drive down drug prices. That seems to be one of its top agenda items for this week; it kicked off Monday afternoon with Trump signing an executive order demanding lower drug prices from manufacturers.
