
Bernie Sanders sends another Big Pharma giant’s stock plummeting after diabetes drug Tweetstorm
Despite his defeat in the primary, popular Vermont Senator Bernie Sanders continues to lend his star power to the principals of the political revolution, taking aim Tuesday at a pharmaceutical company that raised the price of a life-saving insulin drug—and Wall Street is taking notice.
Tuesday morning, Sanders criticized pharmaceutical company Eli Lilly, which raised the price of its insulin drug Homolog by 700 percent in 20 years when adjusted for inflation.
In a tweet to his 2.7 million Twitter followers, the Vermont Senator posted a Washington Post graph showing the cost of Homolog has risen from $21 to $255 since 1996. Sanders blamed “the drug industry’s greed” for profiting off those in need.
Following Sanders’ tweet, stock prices for Eli Lilly immediately dropped 2.4 percent—a seven month low for the pharmaceutical giant. The senator’s Twitter account followed up the post about Homolog with several more messages critical of Eli Lilly.
“Eli Lilly and Novo Nordisk clearly care more about their profits than their patients,” Sanders’ account posted. “It’s time to end their greed.”
It makes no sense that the same drug that costs $70 in France costs $450 in the US. We should reduce barriers to importation of drugs. pic.twitter.com/h3MzOSCI7g
— Bernie Sanders (@SenSanders) November 1, 2016
Eli Lilly and Novo Nordisk clearly care more about their profits than their patients. It’s time to end their greed. pic.twitter.com/MqCsHNjzcO
— Bernie Sanders (@SenSanders) November 1, 2016
In a statement, Eli Lilly defended the price increase, inciting the
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