Johnson & Johnson (JNJ) shares tumbled 5.19% in pre-market trading on Wednesday, following President Donald Trump's announcement of impending "major tariffs" on pharmaceuticals. The news sent shockwaves through the pharmaceutical sector, with several major players experiencing significant declines.

President Trump stated that his administration would soon impose tariffs on pharmaceuticals coming from foreign countries, predicting that drug companies would consequently move their operations to the U.S. This move could potentially increase consumer prices and disrupt global supply chains in the pharmaceutical industry, directly impacting companies like Johnson & Johnson.

Despite the negative market reaction, there were mixed signals from analysts. Morgan Stanley maintained a Hold rating on Johnson & Johnson with a price target of $164, while Goldman Sachs upgraded the stock to Buy from Neutral. These conflicting views suggest that the long-term impact of the potential tariffs remains uncertain, even as the market reacts strongly to the immediate news.

Investors will be closely watching for further developments on the proposed pharmaceutical tariffs and their potential impact on Johnson & Johnson's operations and financial performance. The company is scheduled to report its first-quarter earnings on Tuesday, which may provide more clarity on how it plans to navigate these potential challenges.