Valeant Pharmaceuticals Intl Inc (NYSE:VRX), after opening its shares at the price of $ 0.36, dropped – 0.82% to close at $11.16 or the day. The stock moved on a traded volume of 22.08M shares, in comparison to 22.49M shares of average trading volume. The Republican health-care bill is expected to increase America’s uninsured rate and bring down government health-care spending.
Those changes should catch up with the industry in about 2020, according to a new Moody’s report, which said that the bill would be “credit negative for most U.S. corporate health-care companies.”
The Affordable Care Act’s repeal has long been expected to harm hospitals such as Community Health Systems Inc. CYH, -1.59% HCA Holdings Inc. HCA, -0.33% Tenet Healthcare Corp. THC, -0.28% LifePoint Health Inc. LPNT, +0.16% and Universal Health Services Inc. UHS, -0.65% who were big beneficiaries of the health-care law. Uninsured people often end up in hospital emergency rooms, and if those pricey bills are left unpaid, hospitals must eat the cost.
But the Moody’s report said the AHCA would also have consequences for medical device makers and pharmaceutical companies, such as Johnson & Johnson JNJ, +0.00% Merck & Co. Inc. MRK, +0.11% Amgen Inc. AMGN, -6.52% Pfizer Inc. PFE, +0.07% and Bristol-Myers Squibb Company BMY, -1.48% alongside medical devicemakers Boston Scientific Corp. BSX, +1.05% and Medtronic Inc. MDT, +0.48%
The 52-week range for the stock is $10.50 and $38.50 and during the previous trading session the stock touched its highest price at $11.60. Its introductory price for the day was $ 11.47. The stock’s current distance from 20-Day Simple Moving Average (SMA20) is – 18.68% where (SMA50) and (SMA200) are – 22.36% and – 45.12% respectively.
Great Basin Scientific Inc(NASDAQ:GBSN) reported the unchanged of 0.00% and closed at $ 0.0602with the total traded volume of 0.14 shares. The company has a total market capitalization of $ 48,370.00. The 52-week price range of the stock remained $ 0.06 – $ 45,025.21. President Donald Trump maintains his support of Republican House leaders’ healthcare plan, U.S. Health Secretary Tom Price said on Friday, adding that the proposed measure tackles key issues important to the president.
“The president’s very supportive of this plan, thinks that it addresses his priorities,” such as the coverage of patients with pre-existing medical conditions, among others, Price told reporters at a news conference.