1515 ET - Shares of many drugmakers including Vertex and Eli Lilly are down more than the broader market on concerns about potential challenges from Washington, D.C., analysts said. The Trump administration is reportedly considering new limits that cap the prices of drugs sold to Medicaid programs by tying them to the lower prices charged in other countries. And a controversial cancer specialist, Vinay Prasad, was named to lead the FDA division that regulates vaccines and gene therapies. Prasad has called for the FDA to use more rigorous evidence to approve new drugs, and he questioned policymakers' Covid-19 decisions during the pandemic. The Nasdaq biotech index is down 6.1%, versus a 0.5% decline in the S&P 500. (peter.loftus@wsj.com)
(END) Dow Jones Newswires
May 06, 2025 15:15 ET (19:15 GMT)
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