By Elsa Ohlen
Shares of pharmaceutical companies dropped early Monday after President Donald Trump said he would lower the cost of medicines for Americans by between 30% and 80%.
Shares of major U.S. drugmakers Eli Lilly, Pfizer, Merck, AbbVie and Amgen fell between 2% and 4% in premarket trading Monday.
The U.S. is the largest market for many global pharmaceutical companies, partly because of higher prices. Shares of European drugmakers like Novo Nordisk, Novartis and Roche also fell between 2% and 5% in morning trading.
Trump said he will institute a so-called "most-favored-nation" drug price policy, whereby the U.S. will pay the same price as the lowest price paid by comparable nations, in a post on social-media platform Truth Social late Sunday.
The price of prescription drugs can be as much as four times as high in the U.S. than in other wealthy nations, a Health Department-contracted study found in 2024.
The drop in pharma stocks comes as most of the market is rallying following a 90-day pause on the bulk of tariffs on trade between the U.S. and China, announced early Monday.
Write to Elsa Ohlen at elsa.ohlen@barrons.com
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
May 12, 2025 07:10 ET (11:10 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。