Eli Lilly, AbbVie, Bristol Myers, Regeneron, And Other Pharma Companies Slide As Donald Trump Confirms Tariffs On Pharma Companies
Benzinga (Fri, 11-Apr 4:36 AM)
Even as President Donald Trump paused the reciprocal tariffs for 90 days on Wednesday, he later confirmed in a conversation with reporters at his Oval Office that pharmaceutical companies would face tariffs.
What Happened: The rally in pharma stocks was short-lived after the stocks reversed course on Thursday. When a reporter asked President Trump if he would go ahead and levy tariff duties on pharmaceutical stocks, he said, “Yeah, well, I will be because we want them coming back.”
“You know, we realized during COVID-19 that we don’t make our drugs and our pharmaceuticals in this country. So, I realized that, and it was a big realization,” he added.
Citing the emergency during COVID-19, he stated that he wanted the pharma companies to produce drugs in the U.S.
“We had to go to China to get drugs, we had to go to other places, we don’t make it. That’s because we let them leave, and ...
