Pharmaceutical companies breathed a sigh of relief when Donald Trump prevailed on Election Day. His opponent, Hillary Clinton, had made prescription drug pricing a centerpiece of her campaign.

However, according to Bernstein analyst Tim Anderson, pharma stocks may not be off the hook when Trump moves into the White House.

In a Time “Person Of The Year” profile, Trump was quoted as sayinghe will “bring down drug prices.” He didn’t provide any details about what exactly he plans to do, but the quote was enough to send the iShares NASDAQ Biotechnology Index (ETF) IBB 0.43% down 3.9 percent on Wednesday.

Anderson believes Trump will continue to be a wildcard for pharma stocks.

However, despite Trump’s unpredictability, Anderson still feels the election’s outcome is good news for pharma investors.

“The republican sweep in November was a materially positive event, in our view, for therapeutics companies,” he wrote.

Bernstein named…

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