BUZZ-Australian healthcare stocks fall after Trump gives details on pharma tariffs

Reuters
16 Jul
BUZZ-Australian healthcare stocks fall after Trump gives details on pharma tariffs

** Australian healthcare stocks .AXHJ fall as much as 1.4% - biggest intraday pct decline since June 23

** U.S. President Donald Trump says he will announce tariffs on pharmaceutical imports potentially at the end of July, starting with a 'low tariff' to give companies time to move their manufacturing units to the U.S. before imposing a 'very high tariff' in a year or so

** Australian pharmaceutical firms benefit significantly from U.S. sales

** Sector giant CSL CSL.AX falls 1.8% while Telix Pharmaceuticals TLX.AX down 0.7%

** Sub-index down 5.8% YTD vs 4.9% in broader benchmark .AXJO

(Reporting by Sneha Kumar in Bengaluru)

((Sneha.kumar@thomsonreuters.com;))

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