January 11, 2017 12:41pm

 

“We’re the largest buyer of drugs in the world, but we don’t bid properly, and we’ll save billions over time and we’ll do that with a lot of other industries,” Trump said. He added that the industry was “getting away with murder.” … Donald Trump, the president-elect.

 


 

The NASDAQ erased gains to trade slightly lower.

 

Shares of the iShares Nasdaq Biotechnology ETF (IBB) fell almost 2.7% and the SPDR Biotech ETF (XBI) dropped almost 2.8%.

Meanwhile, the iShares U.S. Pharmaceuticals ETF (IHE) dropped almost 2.1% and the SPDR S&P Pharmaceuticals ETF (XPH) fell 2.7%.

The health care SPDR (XLV) declined around .96%.