Pharma

With one tweet, Bernie Sanders caused a pharma company’s stock to drop $400 million in a day

A tweet posted to Bernie Sanders’ official Twitter account has caused the stock of a pharmaceutical company to tank.

Sanders told his 2.6 million followers that Ariad Pharmaceuticals Inc. had raised the price of its leukemia drug “to almost $199,000 a year.”

“Drug corporations’ greed is unbelievable,” Sanders’ said in the tweet, including a link to an article on the story. “Ariad has raised the price of a leukemia drug to almost $199,000 a year.”

Not long after the tweet was posted, Ariad’s stock dropped 15 percent, totaling $387 million dollars. It was the company’s biggest intraday decline in over a year, according to Bloomberg.

Iclusig, the drug Sanders mentioned, treats a rare form of leukemia, and has seen its price raised four times this year alone, to $16,000 for a 30-day pack.

Explaining the rising prices, an Ariad spokeswoman told Statnews that the company assesses “pricing based on a range of factors, including efforts to make sure that pricing appropriately reflects the benefit the therapy delivers to patients and to the healthcare system.”

“We have substantial clinical data highlighting the benefits of Iclusig, as you know, which addresses an area of high unmet medical need in an ultra-orphan patient population of around 1,000 to 2,000 patients per year. We believe that our pricing actions also consistently reflect our significant investment in R&D and our ongoing commitment to the patient population we serve through our medicines.”

A similar situation happened to the drug company Mylan, which saw its shares tank after Hillary Clinton publicly criticized them for hiking the price of the EpiPen allergy medication.

 Featured image: Gage Skidmore (Flickr)

5 Comments

5 Comments

  1. Avatar

    check that

    June 22, 2017 at 1:44 pm

    I just want to say I’m beginner to blogging and truly loved your website. More than likely I’m planning to bookmark your site . You certainly come with exceptional well written articles. Bless you for sharing with us your blog.

  2. Avatar

    kumahasiaweh

    June 28, 2017 at 6:39 am

    Hello there, I found your website by way of Google even as searching for a similar topic, your web site came up, it seems good. I’ve bookmarked it in my google bookmarks.

  3. Avatar

    W88

    September 24, 2020 at 7:13 pm

    Admiring the dedication you put into your site and in depth information you provide.
    It’s good to come across a blog every once in a while that isn’t the same old rehashed information. Wonderful
    read! I’ve bookmarked your site and I’m adding your RSS feeds to my
    Google account.

  4. Avatar

    Movers

    September 25, 2020 at 9:08 am

    Good information. Lucky me I came across your blog by accident (stumbleupon).
    I have saved as a favorite for later!

  5. Avatar

    온라인카지노

    October 15, 2020 at 8:45 pm

    Wow, superb blog layout! How long have you been blogging for?

    you make blogging look easy. The overall look of your web site is
    excellent, as well as the content!

Leave a Reply

Your email address will not be published.

To Top