TrumpRx: Japanese drugmakers slump after Trump unveils discount drug website
Shares of Japanese pharmaceutical companies slumped in early Tokyo trading on Friday after U.S. President Donald Trump's website offering discounted prescription medicines went live.
Sumitomo Pharma sank 4.5%, while Roche affiliate Chugai Pharmaceutical lost 3.1%. Takeda Pharmaceutical , Japan's largest drugmaker, declined 1.5%.
Trump on Thursday unveiled TrumpRx.gov following deals struck with 16 of the largest global drugmakers for "most-favoured nation" prices for Americans in exchange for exemptions from U.S. tariffs.
The drugmaker sector lost 1.6% to become the second-worst performer among the Tokyo Stock Exchange's 33 industry sub-indexes.
Sumitomo Pharma sank 4.5%, while Roche affiliate Chugai Pharmaceutical lost 3.1%. Takeda Pharmaceutical , Japan's largest drugmaker, declined 1.5%.
Trump on Thursday unveiled TrumpRx.gov following deals struck with 16 of the largest global drugmakers for "most-favoured nation" prices for Americans in exchange for exemptions from U.S. tariffs.
The drugmaker sector lost 1.6% to become the second-worst performer among the Tokyo Stock Exchange's 33 industry sub-indexes.
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