Pharma stocks could see turbulence from US Senate drug-price hearing

BOILER-PIPE: Share via E-Mail Bookmark NEW YORK: U.S. healthcare stocks could face more turbulence on Tuesday, after a bumpy early 2019, as top executives from some of the largest pharmaceutical companies are expected to get grilled in the U.S. Senate on the high cost of prescription drugs.

Advertisement Advertisement Kevin Gade, a portfolio manager at Bahl & Gaynor focusing on pharmaceutical and biotech stocks, said he expects the executives to point the finger for high drug prices elsewhere in the drug-supply chain, such as at pharmacy benefit managers or insurance companies. "I don’t think pharma is going to be able to win them over," Gade said, adding that"you can only hope...that anything disastrous is avoided.

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