“This letter is a ‘bank shot’ that gets things going, with the goal of getting Gilead to significantly lower the price of Sovaldi,” Terry Haines, a senior political strategist with ISI Group
LLC, said in a note to clients. The letter may be a starting point in a campaign to pressure Foster City, California-based Gilead and encourage Republicans and senators of both parties to join the effort, he said.
Gilead declined 4.6 percent to $72.07 at 4 p.m.