Asia’s pharma stocks drop as Trump plans US drug price cuts

Quick Summary:

His announcement is pressuring pharma stocks on worries their profits will take a hit if they have to cut prices in the US.

Chugai Pharmaceutical dropped as much as 7.2 per cent, the most in a month, with peers Daiichi Sankyo and Takeda Pharmaceutical losing around 5 per cent.

The US government already negotiates prices for some of the highest-cost medicines used in Medicare under the Inflation Reduction Act, which passed in 2022 under former President Joe Biden, with more slated to be added every year.

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Category: EconomyBusiness

Markets: SingaporeHong KongIndiaJapanSouth KoreaPakistan

Topics: Cent Japan Order Drug Pharma Pharmaceutical Fell Stocks Prices Trump Media

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-05-12 @ 13:50:10 (2 days ago)

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Article Length: 757 words

Reading Time: 5 minutes read

Sentences: 29 lines

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Copyright Owner: © The Straits Times

News ID: 28597993

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