Drug-pricing woes put the hurt on pharma junk bonds

Pharma's bonds are underperforming the wider junk-debt gauge, Bloomberg reports, with those sold by companies including Valeant ($VRX) and Endo ($ENDP) missing the mark. And that's bad news for drugmakers such as Concordia and Sucampo, which are marketing more than $2 billion of loans to finance takeovers. More