US drugmakers fall after Trump's new tariff warnings
ReutersApr 4, 2025 2:17 PM
Shares of some U.S. drugmakers fall, amid a broader market sell-off, after President Donald Trump threatened steep tariffs on the sector
Pharma stocks briefly rose on Wednesday after Trump spared pharmaceutical products from reciprocal tariffs
*Trump said tariffs on the sector are expected to be announced in the near future, and are under review right now
Shares of Merck MRK.N down 1.8%, Biogen BIIB.O down 2%, Pfizer PFE.N down 2.5%, Eli Lilly LLY.N down 4.5% and AbbVie ABBV.N down 2.3%; Arca Pharmaceutical Index .DRG down 3%
Up to last close, LLY up 2.2% , MRK down 13.2%, BIIB down 14.5% and PFE down 8.4% YTD
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