The way the US pharma stocks rallied last night suggests our pharmas might bounce back today. LTP, which is less likely affected might hopefully bounce back by more. Who knows, but a reassuring reaction in the US last night from stocks more likely to have been impacted.
Shares of major drugmakers, after initially falling during premarket trading, rallied on Monday along with the broader market. Shares of Merck & Co (MRK.N), opens new tab closed up 5.8%, while Pfizer (PFE.N), opens new tab gained 3.6% and Gilead Sciences (GILD.O), opens new tab finished up 7.1%. Eli Lilly (LLY.N), opens new tab, the world's largest drugmaker by market value, rose 2.9%.Analysts said the order did not contain the kinds of detailed plans for price cuts that would raise concerns."Implementing something like this is pretty challenging. He tried to do this before and it was stopped by the courts," said Evan Seigerman, analyst at BMO Capital Markets
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