U.S. President Barack Obama might have been celebrating a landmark victory in the passing of his health-care bill in the House of Representatives, but drugmakers in Europe were feeling the pain in equity trading in Europe as the traders bet that the adoption of more universal health coverage across the pond would dent the profits of big pharmaceutical companies.
Drug-making giants like Roche ( RHHBY – news – people ), AstraZeneca ( AZN – news – people ), GlaxoSmithKline ( GSK – news – people ) and Novartis ( NVS – news – people ) all declined in late-morning trading in London and Zurich on Monday.
Full story: Health-Care Bill Hits Euro Drugmakers-Forbes.com