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U.S. Pharma Stocks Rally on Trump’s Proposed 100% Tariff on Foreign Drugs
U.S. Pharma Stocks Rally on Trump’s Proposed 100% Tariff on Foreign Drugs
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BTCCSquare news:
American pharmaceutical stocks climbed in early trading Friday after former President Donald TRUMP threatened to impose a 100% tariff on imported branded drugs. The policy, announced via Truth Social, would take effect October 1 and exempt only companies with active U.S. manufacturing operations.
Johnson & Johnson, Pfizer, Merck, Eli Lilly, and Bristol-Myers Squibb all gained approximately 0.5%. Conversely, AstraZeneca's U.S.-listed shares tumbled 2.43% Thursday, with additional losses in extended trading. Novartis bucked the trend among European firms with a modest gain, while Roche shares closed nearly 3% lower.
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