By Helena Smolak
Stocks in drugmakers sold off globally after President Trump said tariffs on pharmaceutical imports will be unveiled shortly, signaling the industry could be next in line amid a trade war that is causing market turmoil.
-- Switzerland's Roche and Novartis, the U.K.'s AstraZeneca and GSK and France's Sanofi were all down 5% or more in European midday trade.
-- Japan's Daiichi Sankyo and Takeda Pharmaceutical closed 6% and 4.7% lower, respectively.
-- In U.S. premarket trading, Eli Lilly, Merck and Pfizer all fell at least 1%.
The drug sector was spared from Trump's sweeping tariff plan that kicked in today, but the president's remarks at a Tuesday dinner with House Republicans suggested levies could come very shortly.
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(END) Dow Jones Newswires
April 09, 2025 06:17 ET (10:17 GMT)
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