U.S. Politics

Sanders tweet causes drug company to lose $400M in a day

Greg Nash

Good for Bernie!  Someone needs to call out those greedy pharmaceutical companies. (ks)

THE HILL

A tweet posted to Sen. Bernie Sanders’ (D-Vt.) Twitter account on Friday afternoon caused the stock of a pharmaceutical company to crash, costing the company millions of dollars.

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,” the Vermont senator tweeted.

Shortly after the tweet, Ariad’s stock lost 15 percent of its value — or $387 million dollars — its biggest intraday decline in over a year, according to Bloomberg.

The drug mentioned in Sanders tweet, Iclusig, helps to treat a rare form of leukemia, and has indeed seen its price raised four times this year alone, to $16,000 for a 30-day pack.

Hillary Clinton had a similar effect on the drug company Mylan, which saw its shares plummet after she accused it of “price gouging” consumers who buy its EpiPen allergy shot.

Neetzan Zimmerman

One thought on “Sanders tweet causes drug company to lose $400M in a day

  1. “Shortly after the tweet, Ariad’s stock lost 15 percent of its value — or $387 million dollars.”
    So now, Ariad gets to “Feel the Bern”!

    Like

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