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Home Causes Bernie Sanders’ Tweet Causes Big Pharma Company’s Stock to Plummet

Bernie Sanders’ Tweet Causes Big Pharma Company’s Stock to Plummet

Ariad Pharmaceuticals' stock dropped $387 million in just one day.

| News Report
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Bernie Sanders is no stranger to calling out big pharma companies for shady business practices, but now just one tweet from the Vermont Senator has caused a company’s stock to plummet in just a day.

Sanders tweeted the following about Ariad Pharmaceuticals recent price increase on a life-saving drug:

After the tweet was sent, Ariad’s stock price plummeted, losing $387 million in value. The sudden drop was the single largest intraday decline for the company in over a year.

Ariad Pharmaceuticals has raised the price of a life-saving drug used to treat leukemia patients four times over the last year. This was after they had already raised the price twice last year. The drug now costs nearly $200,000 a year.

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Sanders is well known for being outspoken against Big Pharma. During his presidential campaign he turned down a campaign donation from Martin Shkreli, the former CEO of Turing Pharmaceuticals, who had raised the price of a drug used to treat AIDS by 5,000 percent overnight. Sanders gave the donation to a health clinic in Washington.

More recently, Sanders attacked Mylan Pharmaceuticals for raising the price of the life-saving EpiPen.

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