Shares of generic drug makers took a dive in afternoon trade Thursday, after reports that U.S. government regulators may be ready to file charges by the end of the year. Mylan N.V.’s stock tumbled 7.3%, putting it on track to close at the lowest level since Sept. 9, 2013. At about 2:09 p.m. ET, the stock was down just 1.2%. Among shares of other generic drug sellers, Mallinckrodt PLC dropped 7.1%, Teva Pharmaceutical Industries Ltd. tumbled 9.9%, Endo International PLC plunged 16%, Valeant Pharmaceuticals International Inc. shed 7%, Allergan PLC fell 4.1%, Lannett Co. Inc. plummeted 21% and Impax Laboratories Inc. shed 12%. Drug makers have been under fire after some companies raised live-saving drug prices sharply in an effort to boost profits, as Mylan did with its EpiPen.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News