Drug Stocks Edge Higher; Sanofi rises

MoneyMarket ^ | Dec. 23, 2009, 9:58 a.m. EST | Val Brickates Kennedy

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BOSTON (MarketWatch) -- Drug stocks edged higher in early trading Wednesday as shares of Sanofi-Aventis /quotes/comstock/13*!sny/quotes/nls/sny (SNY 39.80, +0.38, +0.97%) continued to climb in the wake of news that it plans to buy consumer products-maker Chattem Inc. /quotes/comstock/15*!chtt/quotes/nls/chtt (CHTT 93.20, +0.10, +0.11%) for $1.9 billion. The NYSE Arca Pharmaceutical Index /quotes/comstock/10t!drg.x (DRG 311.97, +0.65, +0.21%) rose 0.5% to 312.89, NYSE Arca Biotechnology Index /quotes/comstock/10t!btk.x (BTK 938.74, +4.58, +0.49%) advanced 0.4% to 938.20.

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Sen. Bernie Sanders (I-VT) said yesterday on MorningJoe, MSNBC that because of the ObamaCare Bill (he just signed): "Insurance, Drug Companies Will Make Out Like Bandits". "They are laughing all the way to the bank." {the MSNBC crew agreed in disgust}

So who really are the winners here? What's changed..?

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BOSTON, Dec 21 (Reuters) - NewsHealthcare shares rose on Monday as a bill to reform healthcare passed the first critical test in the U.S. Senate, without many of the provisions, such as a government-run health insurance option, that investors most feared would hurt profits.

The S&P Healthcare Index .GSPA rose 1.4 percent, while the Morgan Stanley Healthcare Payor stock index .HMO rose 3.6 percent. The S&P Managed Health Care index .GSPHMO rose 4.6 percent.