Pharma growth trumps uncertainty in early election reactions

9 November 2016

Rather than uncertainty about what the Presidency of Donald Trump might mean for drug prices, many pharma and biotech stocks jumped considerably after the Republican nominee gained a shock election victory over Democrat Hillary Clinton.

Many US drugmakers leapt overnight, including pharma giants Merck & Co (NYSE: MRK), which was nearly 5% up on the previous evening after an hour’s trading on Tuesday, and Pfizer (NYSE: PFE), which was trading almost 8% higher at the same time. This was after they had settled down having initially opening at even higher rates.

US biotechs were also up, with Amgen (Nasdaq: AMGN) and Gilead more than 4% higher, and Regeneron rising 8%.
Internationally it was a similar story, with Swiss pharma giants Novartis (NOVN: VX) and Roche (ROG: SIX) climbing 5% and France’s Sanofi (Euronext: SAN) up 4%.

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