Elite Pharmaceuticals Inc (ELTP): DJUSBT sell off due to Biotech Conti...

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Re: elichen post# 99496

Monday, 03/24/2014 1:04:13 PM

Monday, March 24, 2014 1:04:13 PM

DJUSBT sell off due to

Biotech Continues Friday Sell-Off On Drug Pricing Concerns 03/24 12:17 PM

12:17 PM EDT, 03/24/2014 (MT Newswires) -- Biotechs continue to get slammed Monday, a second day of dramatic market reaction after Congress asked Gilead Sciences (GILD:$71.91,00$-0.16,00-0.22%) to justify pricing on the company's $1,000 hepatitis C pill, which has raised concerns for the impact on the Medicare and Medicaid programs.
In a Congressional letter sent Thursday, March 20, representatives told GILD that an expensive treatment will hurt patients who can not afford the medication. A response from GILD is requested by April 3.

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