It’s been a pretty rough year for the biotech sector with the NASDAQ Biotechnology index tumbling 18.7% over the last 12 months and 12.3% year-to-date (YTD). Factors like a changing competitive scenario and more importantly, the drug pricing issue, have been weighing on the sector.
The drug pricing issue has heated up in recent times given the price hikes taken by Mylan for its life-saving combination product EpiPen. Democratic Presidential candidate Hillary Clinton recently announced a health care plan that will address the excessive price hikes of treatments that have been around for years and also reaffirmed her earlier broader plan, announced last September, with the aim to lower drug prices for all Americans.
