NEW YORK, NY / ACCESSWIRE / January 12, 2017 / Biotech and Healthcare stocks were slammed Wednesday as President Donald Trump made some critical remarks against the industries at his first news conference since the election. The 5 largest losers in the S&P 500 Index were all pharmaceutical or biotech companies in early trading Wednesday. The iShares NASDAQ Biotechnology Index ETF fell by as much as 4 percent before settling to close down 2.98 percent for the day. The S&P 500 Health Care Sector dropped 1.04 percent. Today's research reports on Endo International PLC (NASDAQ: ENDP) and Perrigo Company PLC (NYSE: PRGO).

"Our drug industry has been disastrous," Mr. Trump said in his opening remarks. "They're getting away with murder."

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President Trump's election was initially perceived to be a win for the drug companies as Hillary Clinton had been very critical of drug manufacturers throughout her campaign and vowed to fight the "price gouging" that was happening within the industry. But recent comments made by President Trump have wiped out all the initial gains for drug stocks and have raised some major concerns.

"Pharma has a lot of lobbies, a lot of lobbyists and a lot of power. And there's very little bidding on drugs. We're the largest buyer of drugs in the world, and yet we don't bid properly," Mr. Trump said. "We're going to start bidding and were going to save billions of dollars over a period of time."

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Endo International's shares dropped 8.49 percent to close at $14.01 a share Wednesday. The stock traded between $13.65 and $15.47 on volume of 16.21 million shares traded. On December 21st, the company announced Patrick Barry as Senior Vice President, U.S. Branded Pharmaceuticals and Matthew Davis, M.D., R.Ph., as Senior Vice President, Research and Development Branded Pharmaceuticals, effective January 3, 2017. Prior to joining Endo, Mr. Barry worked at Sanofi for over two decades. Prior to rejoining Endo, Dr. Davis served as the Chief Medical Officer of Lupin Pharmaceuticals, Inc. and previously at URL Pharma, where he spearheaded 5 NDA approvals, and received 21 U.S. patents.

The company reported a net loss from continuing operations of $191 million for the third quarter of 2016, compared to a net loss of $804 million in the third quarter of 2015. Revenues totaled $884 million in the third quarter, up 19 percent when compared to a year ago. Percentage share of US Generic Pharmaceuticals revenue from total revenue has increased to 60.4 percent in third quarter of 2016, as compared to percentage share of 49.3 percent in same quarter prior year.

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Perrigo's shares fell 6.90 percent to close at $77.88 a share Wednesday. The stock traded between $76.08 and $83.04 on volume of 6.22 million shares traded. On December 20th, the company announced the approvals from the U.S. Food and Drug Administration for the store brand OTC equivalents to Nicorette White Ice Mint Gum. GlaxoSmithKline's Nicorette White Ice Mint Gum's annual sales were $79 million for the 12 months ending November 2016.

Perrigo Company plc, a top five global over-the-counter ("OTC") consumer goods and pharmaceutical company. Perrigo reported net sales were $1.4 billion in the third quarter of 2016, an increase of 1 percent when compared to the third quarter of 20015. New product sales totaled $79 million in third quarter. Reported net loss was $1.3 billion, or $8.76 per share versus net income of $113 million, or $0.77 per share, in the prior year. $1.3 billion loss for the third quarter was primarily driven by goodwill impairment charges of $804 million and brand intangible assets impairment charge of $866 million, although reported gross margin has reduced to 37.4 percent for third quarter of 2016 as compared to gross margin of 40.8 percent in same quarter prior year. The Company expects 2016 reported loss to be between $9.04 and $9.34 per diluted share and continues to expect adjusted earnings to be between $6.85 and $7.15 per diluted share, excluding charges related to impairment, restructuring and Tax effect of non-GAAP adjustments.

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