By Kosaku Narioka
Shares of Asian drugmakers are falling after President Trump said he would sign an executive order aimed at lowering the cost of prescription drugs. The share-price moves presage possible trouble for U.S. drug stocks.
Shares of Japan's Daiichi Sankyo, which gets about a third of its revenue from the U.S., were down more than 7% in Tokyo trading Monday, with other Japanese drug stocks also lower. Pharmaceutical stocks were broadly weaker in China too.
Many global drug companies count on the U.S. for revenue and profit because U.S. drug prices tend to be higher. In other developed nations, governments typically negotiate or set a single nationwide price for drugs, using their leverage to push down the price.
In a Truth Social post, Trump said that under his plan to be announced Monday, the U.S. "will pay the same price as the Nation that pays the lowest price anywhere in the World." He didn't give details or say whether his executive order would apply to Medicare, Medicaid or other U.S. government programs.
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(END) Dow Jones Newswires
May 12, 2025 00:05 ET (04:05 GMT)
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