By Jared S. Hopkins
Drugmakers breathed a sigh of relief Wednesday after President Trump didn't announce pharmaceutical tariffs.
Plus, language in the executive order indicated medicines were exempted from the reciprocal tariffs that Trump did announce.
Drugmakers were combing over the executive order to clarify the exemption language in the executive order and to make sure they won't be hit by any other tariff provisions, such as the 10% "baseline" tariff.
President Trump had said he was going to impose pharmaceutical tariffs at some point-a move that could have affected branded medicines imported from countries like Ireland as well as the many generic drugs made in India.
Shares of drugmakers in the U.S. and overseas varied in after-market trading, reflecting the lack of clarity.
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(END) Dow Jones Newswires
April 02, 2025 18:03 ET (22:03 GMT)
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