0720 GMT - Shares in pharmaceutical companies could come under selling pressure Monday after President Trump said he planned to cut U.S. prescription drug prices, with an announcement expected later Monday, Kathleen Brooks, research director at XTB writes. If Trump uses price caps on pharma imports rather than tariffs to reduce the cost for U.S. patients then this could have "big ramifications" for pharma companies and their profits, she says. AstraZeneca shares fall 4.2% in early trade, GSK loses 2.4% and Novo Nordisk drops 7.7%. (dominic.chopping@wsj.com)
(END) Dow Jones Newswires
May 12, 2025 03:20 ET (07:20 GMT)
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