Asian pharmaceutical stocks mostly declined after U.S. President Donald Trump threatened 100% tariffs on branded drug imports starting October 1, unless companies have begun U.S. manufacturing.
Asian Pharma Stocks Slide
Samsung Biologics and SK Biopharmaceuticals fell in South Korea, while Japan’s Sumitomo Pharma and Otsuka Holdings saw steeper drops. Celltrion bucked the trend, rising 1.3% after acquiring ImClone Systems in the U.S. Hong Kong’s Hang Seng Biotech Index dropped 2.58%.
Economist Carol Kong said sectoral tariffs are legally sound and likely to persist, pushing the U.S. effective tariff rate toward 18%. Broader economic impact on Japan and Australia is expected to be limited.
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