Gilead Sciences Tumbles; Unconfirmed Reports Of Drug Pricing Changes In Japan

Shares of Gilead Sciences, Inc. (NASDAQ: GILD) were trading lower by more than 2 percent at $87.87 on Wednesday following an unconfirmed report by Pharma Japan, a pharmaceutical industry news site in Japan.

According to Pharma Japan, Gilead's Sovaldi and Harvoni are among a small handful of drugs that face a "new special re-pricing rule" in Japan that will be rolled out in April.

The report noted that drug makers that generate "huge sales" will be affected by the new policy that was adopted by the Ministry of Health, Labor and Welfare on Wednesday.