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Trump threatens to impose tariffs on drugs, pharmaceutical stocks plummet

On April 9, after Trump stated that drug import tariffs would be announced soon, pharmaceutical stocks were hit, indicating that the industry may become the next target of the trade war. During early European trading, the European healthcare index, dominated by six major European pharmaceutical companies, fell 4.5%, while the European Stoxx 600 index dropped 2.7%. Roche and Novartis from Switzerland, AstraZeneca and GlaxoSmithKline from the UK, and Sanofi from France all dropped more than 5% in early trading. Japan's Daiichi Sankyo and Takeda Pharmaceutical fell by 6% and 4.7%, respectively, while Australia's CSL declined by 5%. In pre-market trading of US stocks, Eli Lilly (LLY.N), Merck, AbbVie (ABBV.N), and Pfizer (PFE.N) all fell by more than 1%.