EBS - Why These Drug Stocks Soared Today
Drug stocks soared on Friday with the overall stock market rebounding from Thursday's historic sell-off. Several also spiked near the end of the day today as President Trump held a news conference where he declared a national emergency that he said would "open up access" to up to $50 billion to fight the COVID-19 coronavirus.
Among the biggest drug stock winners were Emergent BioSolutions (NYSE: EBS), which vaulted 22.2% higher. Shares of Momenta Pharmaceuticals (NASDAQ: MNTA) jumped 17.8%. Biogen (NASDAQ: BIIB) and Mylan (NASDAQ: MYL) stocks each closed the day up 13.5%. BioMarin Pharmaceutical (NASDAQ: BMRN) rose by 10.1%.
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