Pfizer (NYSE: PFE) shares plunged 5.02% in Friday's trading session, as President Donald Trump's renewed threats of tariffs on the pharmaceutical sector sent shockwaves through the industry. The steep decline comes amid a broader sell-off in drug stocks, with investors growing increasingly concerned about the potential impact of these tariffs on the sector's profitability.

The tariffs, if implemented, could add an estimated $46 billion in import costs for the pharmaceutical industry, according to Bernstein analyst Courtney Breen. This significant cost increase has prompted investors to reassess their positions in major drug companies, including Pfizer. The company, like many of its peers, has substantial manufacturing operations in countries with lower corporate tax rates, such as Ireland and Switzerland. These operations could be particularly vulnerable to new tariffs.

Adding to the negative sentiment, prominent market commentator Jim Cramer offered a pessimistic view on Pfizer's stock, describing it as "dead money" and suggesting investors "close the casket." This blunt assessment, combined with the broader market concerns, has further dampened investor enthusiasm for the pharmaceutical giant.

As the industry grapples with this potential shift in trade policy, companies may need to reconsider their global manufacturing strategies. The threat of tariffs could prompt a reorganization of production facilities and supply chains, potentially leading to increased costs and logistical challenges for firms like Pfizer in the near term.