European pharma stocks follow Asia peers down as Trump moves to cut prices

MILAN, May 12 (Reuters) - European drugmakers stocks fell in early trading on Monday after U.S. President Donald Trump said he would sign an executive order on reducing prescription drug and pharmaceutical prices.

Frankfurt-listed shares in Novo Nordisk NOVOb.CO, AstraZeneca AZN.L, GSK GSK.L and Roche Holding ROG.S were down between 1% and 5%, underperforming a gain in broader European stock index futures.

Their declines followed losses in shares of Asian competitors.

In Japan, the pharmaceutical sector .IPHAM.T fell over 4% to become the worst performer among the Tokyo Stock Exchange's 33 industry sub-indexes. Indian pharma stocks were also lower.