BeiGene Ltd. (ONC) experienced a significant 24-hour plunge of 6.86% in the night session, as President Trump's announcement to lower prescription drug costs sent shockwaves through the Asian pharmaceutical sector.

The decline comes in response to President Trump's declaration that he would sign an executive order implementing a "Most Favored Nation" policy. This policy aims to tie U.S. government drug prices to those paid by other countries, potentially affecting the profitability of pharmaceutical companies operating in the U.S. market.

BeiGene's sharp drop aligns with a broader trend observed across Asian drugmakers. Other major players in the region, including Daiichi Sankyo, Otsuka Holdings, and WuXi Biologics, also saw their shares decline. The market reaction underscores investors' concerns about the potential impact of U.S. drug pricing reforms on international pharmaceutical companies' revenues and profit margins.