European Pharma Stocks Slip After Trump’s Tariff Announcement

Shares of Europe’s largest pharmaceutical companies fell in early trading on Friday after U.S. President Donald Trump announced a new round of steep tariffs, including a 100% levy on branded medicines.

The post, published on Trump’s Truth Social account, offered no details on whether the tariffs would apply in addition to existing national duties or whether economies with trade agreements—such as the European Union and Japan—would be exempt. Tokyo said it is still assessing the potential impact of the new measures.

On the Tradegate platform, shares of Novo Nordisk (NOVOb.CO), Roche, Novartis (NOVN.S), and AstraZeneca (AZN.L) slipped between 1.8% and 2%.