The 100% duties apply to “any branded or patented Pharmaceutical Product” except for companies that build manufacturing plants in the U.S., Trump said Friday.
Shares of Asian pharmaceutical companies fell Friday after U.S. President Donald Trump announced fresh tariffs on furniture, heavy trucks and pharmaceutical products.
Starting from Oct. 1, “any branded or patented Pharmaceutical Product” faces 100% duties, except for companies that build drug manufacturing plants in the U.S., Trump said in a Truth Social post early Friday.
The Topix Pharma Index fell 1.39% following the announcement. Daiichi Sankyo and Chugai Pharmaceutical were among the companies that led losses, declining 3.34% and 2.18%, respectively. Sumitomo Pharma tumbled 3.03%.
Heavyweight South Korean pharma stocks like Samsung Biologics and SK Bio Pharmaceuticals were down 1.66% and 2.66%, respectively.
Hong Kong-listed pharma companies were among the largest losers on the Hang Seng Index, with Wuxi Biologics in the lead, dropping 2.
