US drugmakers fall as Trump threatens tariffs again

Shares of some U.S. drugmakers fall premarket after U.S. President Donald Trump reiterated plans for a "major" tariff on all pharmaceutical imports as his "reciprocal" tariffs took effect

Trump had also threatened the duties on Friday, after his first set of "reciprocal" tariffs announced last week exempted pharma products

Shares of Gilead Sciences GILD.O down 2.6%, Eli Lilly LLY.N down 1.5%, Biogen BIIB.O down 1.1% and Pfizer PFE.N down 2.8%

Amgen AMGN.O shares fall 2.3%, Merck MRK.N down 2%, AbbVie ABBV.N down 2.5%

The U.S. president has said that the tariffs will incentivize drug companies to move their operations to the U.S.

Brokerage BMO Capital Markets says the tariffs on pharmaceuticals will "likely do little to shift manufacturing back to the US" as the country already has robust biomanufacturing and fill-and-finish onshore

Up to last close, LLY down 5.9%, MRK down 20.6%, BIIB down 25.4%, AMGN up 7.5% and GILD up 11.7% YTD