Biotech stocks sink as Clinton, Sanders jump on Turing

On Monday, Hillary Clinton wrote on Twitter that she will release a plan Tuesday to address "price gouging" on specialty drugs, which she called "outrageous," and referred to a New York Times story that said Turing Pharmaceuticals AG (New York, N.Y.) had raised the price of an approved drug over 50-fold.

Clinton's tweet sent biotech stock indices into the red. The BioCentury 100 fell 5% on Monday. The NASDAQ Biotechnology Index (NBI) and the NYSE Arca Biotechnology Index (BTK) fell 4%, while the iShares NASDAQ Biotechnology ETF (IBB) fell 5%. ...