European pharma shares drop after Trump threatens more tariffs

ReutersSep 26, 2025 5:58 AM

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LONDON, Sept 26 (Reuters) - Shares in Europe's biggest pharma companies fell in early trading on Friday, after U.S. President Donald Trump unveiled a new round of punishing tariffs, including 100% duties on branded drugs.

The announcements, made on Truth Social, did not include details about whether the new levies would apply on top of national tariffs or whether economies with trade deals such as the European Union and Japan would be exempted. Tokyo said it was still analyzing the potential impact of the new measures.

Shares in Novo Nordisk NOVOb.CO, Roche ROGS.S, Novartis NOVN.S and Astrazeneca AZN.L were down betweeen 1.8% and 2% on the Tradegate platform.

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