Valeant Shares Tumble Before Clinton-Trump Faceoff - TheStreet

Valeant Shares Tumble Before Clinton-Trump Faceoff

Andrew Left says cracking down on Big Pharma may be all that Hillary Clinton and Donald Trump have in common.
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Cracking down on Big Pharma may be the only thing Hillary Clinton and Donald Trump have in common ahead of Monday's presidential debate, at least according to short seller Andrew Left. Left said in a Monday phone interview that both candidates are looking to crack down on price hikes of companies such as Valeant Pharmaceuticals (VRX) and Mallinckrodt (MNK) - Get Report , whose shares were each down more than 6% in midday trading. And, Clinton said in a video earlier this year that she's "going after" the struggling Canadian drugmaker for "predatory pricing" on several of its acquired drugs -- a Valeant practice that's stirred controversy and contributed to shares falling about 74% this year alone. And controversy over price-hiking in Big Pharma was most recently kindled by Mylan (MYL) - Get Report in the exorbitant price increases on its life-saving EpiPen allergy treatment -- which will most likely be a topic at the debates.

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