Pharma Giant Feels the Bern After Single Tweet Costs Them $387 Million
A single tweet posted by the Democratic runner-up in the 2016 US Presidential Race, Bernie Sanders, cost a pharmaceutical company an estimated $387 million (yes, MILLION).
The tweet, below, was posted to Bernie´s 2.65m followers and highlighted that pharma giant, Ariad, has raised the price of a cancer drug . Following this, Ariad saw their share price plummet by 15% – costing investors approximately $387 million. Ouch.
Interestingly, the tweet was not signed ¨-B¨, indicating that it was written and posted by a member of Bernie´s team, not by the man himself.
US news network, Bloomberg, reported that the wholesale acquisition price of Ariad´s leukaemia drug, Iclusig, has been raised four times in 2016 alone. This brings the price of a single 30-day pack of the potentially life-saving medication to over $16,000, that´s almost $199,000 a year.
Not only did this tweet highlight the shameless greed that is culturally ingrained within the American pharmaceutical and healthcare industries, but also the sheer power of Twitter as a social network to affect change. For those writing off Twitter as a viable platform: one tweet cost just shy of $400 million – the little blue bird´s got a song or two in it yet.