Trump’s Pharma Tariffs Boost US Drug Stocks as Europe’s and Asia’s Drop

Over the past several months, drugmakers have committed to billions of dollars in new U.S. manufacturing.

9/26/2025|Updated: 9/26/2025

Shares of major U.S. drugmakers rose while foreign stocks slumped after President Donald Trump unveiled new pharmaceutical tariffs.

In a Sept. 25 Truth Social post, the president announced he would impose a 100 percent tariff on “any branded or patented pharmaceutical product” entering the United States next month.

Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of “The War on Cash.”