iShares Nasdaq Biotechnology ETFNASDAQ
Yesterday, 2:04 PM
- The healthcare sector - particularly pharmaceuticals and biotechs - had a rough session on Wednesday after the president-elect promised to bring down drug prices.
- Sporting sizable gains yesterday afternoon and again this session, the sector has recovered all of Wednesday's slide and more.
- Up 1.15% today, the XLV has joined the broader market in the green for the week, as has the IBB. The SPDR S&P Pharmaceuticals ETF (XPH +1.5%) is having the best day of all, but remains marginally lower on the week.
- Individual movers: The Medicines Co. (MDCO +6.2%), Alexion Pharma (ALXN +5.5%), Arena Pharma (ARNA +4.7%), Teva (TEVA +1.3%)
- ETFs: IBB, XLV, IYH, XBI, VHT, PJP, BBH, HQH, FBT, CURE, HQL, XPH, PBE, FXH, FHLC, IHE, RXL, LABU, BBC, PPH
Wed, Dec. 7, 9:53 AM
- Healthcare stocks are starting off the day on a weak note, with pharmaceuticals in particular getting hit hard.
- New Time Person of the Year Donald Trump was quoted as saying he will bring down drug prices under his administration.
- The iShares Nasdaq Biotechnology Index (NASDAQ:IBB) is down 3.65%.
- ETFs: IBB, XLV, IYH, XBI, VHT, PJP, BBH, HQH, FBT, CURE, HQL, XPH, PBE, SBIO, FXH, FHLC, IHE, RXL, LABU, IHF, BBC, IHI, PPH, THQ, RYH, XHS, BBP, PSCH, LABD, UBIO, PTH, XHE, ZBIO, RXD, SICK, LABS, BTEC, FTXH, HCRF, JHMH, LNGR, PILL, PILS.
Tue, Nov. 29, 10:21 AM
Thu, Nov. 17, 9:13 AM
- Despite the election of business-friendly Donald Trump and the knockdown of Caifornia's Propostion 61, the furor over drug prices is far from over say analysts. Price pressure from private payors will continue as will calls for overhauling the U.S. system. The American Medical Association recently urged a "fundamental" change to drug pricing that would like cost to value.
- Barclays says even Mr. Trump has criticized Martin Shkreli-esque price hikes but has not offered specifics on how to address the issue.
- Biotechs (NASDAQ:IBB) rallied almost 20% in two weeks before easing a bit the past two days.
Sat, Nov. 12, 4:43 PM
- Barron's speaks with several prominent money managers.
- They are hopeful that Donald Trump will enact pro-growth tax and fiscal-stimulus policies, while avoiding overly protectionist measures.
- Even though biotech stocks have already rallied 10%, fund manager Arun Daniel believes that the benefits of a Trump administration on the bottom lines of biotech and drug companies are not yet fully priced in. ETFs: IBB, XBI, BIB, BBH, FBT, HQL, PBE, BIS, LABU, BBC, BBP, CNCR, LABD, UBIO, ARKG, ZBIO, LABS
- He's also bullish on stocks leveraged to government-backed infrastructure spending, his favorites being Jacobs Engineering (NYSE:JEC) and Martin Marietta Materials (NYSE:MLM).
- Some companies will likely be allowed to repatriate billions of dollars of profits at a low tax rate. Major beneficiaries could include Nike (NYSE:NKE), Procter & Gamble (NYSE:PG), Caterpillar (NYSE:CAT), Visa (NYSE:V) and Mastercard (NYSE:MA).
- Neuberger Berman's Joseph Amato says that a Trump administration will be better for stocks than bonds. "If [Trump] takes a measured approach and gets some level of concessions for U.S. workers, the trade concerns may be much ado about nothing," Amato says. "But that's a big if."
Wed, Nov. 9, 6:38 AM| Wed, Nov. 9, 6:38 AM | 6 Comments
Wed, Nov. 9, 2:20 AM
- Regardless of election calls tonight -- Donald Trump is reported to have 265 of a needed 270 electoral votes, to Hillary Clinton's 218 -- Clinton campaign chair John Podesta works to send her rally home, saying Clinton won't concede any election tonight: "We're not gonna have anything more to say tonight," Podesta says, adding "she is not done yet."
- There are still several states counting, he says -- though Trump is quite close to the needed count.
- Meanwhile, Jefferies Group looks ahead to the almost certain Trump presidency and says the most underrated theme is "the slashing of the corporate tax rate and the end of gridlock."
- It means a knee-jerk drop in the dollar, the firm says -- the euro's now up 1.6% against the greenback, which is off 2.7% against yen -- and a fall in indexes. But dollar weakness will help much of the S&P 500, it says, considering the 35-40% of revenues that come from overseas.
- "Sentiment toward the healthcare sector ought to swing initially away from draconian fears over drug pricing," the report from Sean Darby and team says. They're also "modestly bullish" on transports, with better growth prospects.
- The main risk, Jefferies says, is "monetary policy uncertainty and unwinding tight credit spreads."
- Healthcare ETFs: XBI, IBB. Transport ETFs: IYT, XTN, FTXR
- Broad market ETFs: SPY, QQQ, DIA, SH, SSO, VOO, SDS, IVV, SPXU, TQQQ, UPRO, PSQ, SPXL, RSP, SPXS, SQQQ, QID, DOG, QLD, DXD, UDOW, RWL, SDOW, VFINX, EPS, DDM, QQEW, QQQE, SPLX, SFLA, QQXT, SPUU, SPXE, LLSP, UDPIX, OTPIX, RYARX, SPXN, SPDN, SPXT, SPXV, TALL.
Tue, Nov. 8, 8:58 PM
- ABC News projects the Republicans will retain control of the House of Representatives.
- Investors in the healthcare sector have been waiting on the election in order to gauge the likelihood of new legislation or gridlock. Earlier this week, Bloomberg assessed how the sector might react to the different scenarios from today's election.
- Healthcare ETFs: IBB, XLV, IYH, XBI, VHT, PJP, BBH, HQH, FBT, CURE, HQL, XPH, PBE, SBIO, FXH, FHLC, IHE, RXL, LABU, IHF, BBC, IHI, PPH, THQ, RYH, XHS, BBP, PSCH, LABD, UBIO, PTH, XHE, ZBIO, RXD, SICK, LABS, BTEC, FTXH, HCRF, JHMH, LNGR, PILL, PILS.
Fri, Nov. 4, 3:38 PM
- The major averages are flat, but the XLV is higher by 1%, and the IBB by 2.15% as pharmaceutical names rebound from yesterday's plunge.
- Sending the stocks down was word of charges about to come from the government following a two-year antitrust probe, but public outrage goes with the territory, says Zacks' Tracey Ryniec, noting the prices - with some at just four or five times earnings - are getting seriously cheap.
- Among those moving today: Endo International (ENDP +1.8%), Perrigo (PRGO +3%), Mylan (MYL +2.6%), Allergan (AGN +3.4%), Cara (CARA +23.8%), PTC (PTCT +20%), Novavax (NVAX +18.9%), Flex (FLKS +14.5%), Cerus (CERS +14.9%), LifePoint (LPNT +2.9%), and Halyard Health (HYH +3.2%).
Thu, Nov. 3, 2:57 PM
- The DOJ could file charges before the end of the year in its probe over whether companies colluded on drug pricing, according to Bloomberg.
- Among those hit: Mylan (MYL -7.4%), Teva (TEVA -10.6%), and Endo International (ENDP -15.4%).
- Others include Allergan (AGN -4.1%) and Valeant (VRX -6.9%)
- Related ETFs: IBB, XLV, IYH, XBI, VHT, PJP, BBH, HQH, FBT, CURE, HQL, XPH, PBE, FXH, FHLC, IHE, RXL
Fri, Oct. 14, 12:21 PM
- Sharp early post-earnings gains from the banks helped the major averages to a sizable early advance, but JPMorgan, Citigroup, and Wells Fargo - all of whom topped estimates - have turned lower for the session, and the banking index overall is now higher by just 0.2%.
- Looking at other sectors, healthcare (XLV -0.4%) is being hit by a 1.35% decline in biotechs (NASDAQ:IBB). The energy sector (XLE -0.5%) is performing worst as oil reverses an early gain to turn $0.40 per barrel lower.
- The S&P 500 and Nasdaq are flat, while the Dow holds a 0.3% advance.
Thu, Oct. 6, 3:32 PM
- Biotech investors are sitting on the sell button today. The iShares Nasdaq Biotechnology ETF (IBB -2.4%) is down on increased volume. Shares have retraced over 5% since the recent close of 300 on September 22.
- Alnylam (ALNY -48%) is leading the rout after it announced that it was dropping development of RNAi candidate revusiran.
- Representative tickers: (AMGN -0.3%)(BIIB -1.3%)(GILD -1.9%)(CELG -1.4%)(BMY)(MRK -0.7%)(PFE -1.2%)(VRTX -3%)(ALXN -2.2%)
Thu, Sep. 22, 10:45 AM
- Buoyed in large part by the FDA's approval of Sarepta Therapeutics' (SRPT +4.4%) Exondys 51 for Duchenne muscular dystrophy and Allergan's (AGN +1.9%) over-the-top acquisition of NASH player Tobira Therapeutics (TBRA +0.6%), money flow has turned decidedly bullish for biotechs. On a technical basis, the iShares Nasdaq Biotechnology ETF (IBB +0.6%) is poised for a breakout through 300, a healthy 25% turnaround from the low of ~240 in June.
- There is a laundry list of leaders in the rally, including bluebird bio (BLUE -0.1%), Clovis Oncology (CLVS +5.4%), Puma Biotechnololgy (PBYI +3.8%), Aerie Pharmaceuticals (AERI -2.1%) and CoLucid Pharmaceuticals (CLCD -3.7%).
Fri, Sep. 2, 1:19 PM
- In a factsheet just published on Presidential candidate Hillary Clinton's website, she outlines her plan to reign in rogue drug companies who aggressively increase the prices of their medicines.
- Her plan features three methods for containing runaway drug costs: make alternatives available and increase competition; enable emergency importation of safe treatments and fine drug firms for unjustified price increases.
- Her first action, as President, will be to create a dedicated group of representatives from Federal agencies that oversee health and safety and fair competition that will be charged with protecting consumers from "outlier" price increases. The group will establish criteria for determining if a price increase is justified for a long-available treatment and investigate and consider enforcement in certain situations.
- In cases where the level of competition is light, her plan will enable the emergency purchases of alternative versions and make them available to patients in need while encouraging competition from additional suppliers.
- She also calls for legislation to safely and securely import drugs from foreign nations whose regulatory regimes are as robust as the FDA, with the proviso of a "careful review" by the agency (more temporary than permanent).
- In cases where miscreant drug firms are fined, the funds will be used to support new programs to make lower-cost alternatives available and speed up approvals in order to beef up competition (specifics are not provided).
- In her broader plan to lower prescription drug costs for all Americans, she proposes a cap on out-of-pocket costs, additional funding to support the clearing of the FDA's backlog of generic drug applications, prohibit "pay for delay" deals (long overdue), a moratorium on direct-to-consumer advertising and allowing Medicare to negotiate drug and biologic prices.
- Representative tickers: (NASDAQ:IBB)(NASDAQ:AMGN)(NASDAQ:BIIB)(NASDAQ:GILD)(NASDAQ:CELG)(NYSE:BMY)(NYSE:ABT)(NYSE:MRK)(NYSE:PFE)(NASDAQ:MYL)(NYSE:VRX)(NASDAQ:TEVA)(NASDAQ:PRGO)(NYSE:AGN)
Wed, Aug. 24, 3:08 PM
- She's at it again. Democratic nominee for President Hillary Clinton takes a dim view of Mylan's (MYL -5.4%) bullish pricing for its EpiPen (epinephrine injection), an auto-injector used to treat allergic reactions in an emergency. The company has raised the price five-fold since 2007.
- In a statement, she says, "Over the last several years Mylan Pharmaceuticals has increased the price of EpiPens by more than 400%. They're now charging up to $600 for a two-EpiPen set that must be replaced every 12 - 18 months. This both increases out-of-pocket costs for families and first responders and contributes to higher premiums for all Americans and their employers. This is outrageous - and it's just the latest troubling example of a company taking advantage of its customers. I believe our pharmaceutical and biotech industries can be an incredible source of American innovation, giving us revolutionary treatments for debilitating diseases. But it's wrong when drug companies put profits ahead of patients, raising pricing without justifying the value behind them. I am calling on Mylan to immediately reduce the price of EpiPens."
- Her comments have stoked selling in the biotech/pharma sector, just like it did when Ms. Clinton had Valeant Pharmaceuticals (VRX -1.3%) in her sights a few months ago.
- Previously: Mylan slumps on senator's inquiry into EpiPen price hikes (Aug. 23)
- Representative tickers: (IBB -2.6%)(AMGN -1.8%)(VRX -1.3%)(BIIB -2.5%)(PFE -0.6%)(BMY -1.9%)(MRK -1.2%)(GILD -1%)(AGN -3%)
Tue, Aug. 2, 2:46 PM
- Biogen (NASDAQ:BIIB) has jumped 5.6% into a trading halt as chatter centers on a potential takeout from Allergan (NYSE:AGN) or Merck (NYSE:MRK).
- IShares Nasdaq Biotech index (NASDAQ:IBB) jumped from the red to a 0.8% gain.
- Biogen might not go for a deal, but the two suitors have tested the waters, the WSJ reports.
- The company's worth more than $68B, setting up what could be the sector's next blockbuster deal.
- Updated 2:51 p.m.: Back on the move, Biogen is now up 7.3%.