In a new report, Evercore ISI analyst Terry Haines discussed the potential for some form of drug pricing legislation in the U.S. within the next two years.

The SPDR S&P Biotech (ETF) XBI 4.82% is down 35.3 percent in the past six months since Democratic presidential front-runner Hillary Clinton brought the issue of drug pricing to the forefront of the campaign debate.

Individual names like Gilead Sciences, Inc. GILD 2.8% and Biogen Inc BIIB 4.43% are getting killed on the fallout as well.

Some biotech investors are even concerned that President Obama could push for some type of drug pricing law in his last year in office, but Haines sees this possibility as highly unlikely. “Our long-held view is that there will not be drug pricing legislation in 2016 and that the likelihood of drug pricing regulation is very small in 2017,” he explained.

Evercore ISI sees…

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