Global Pharma Stocks Fall After Trump Demands Cuts in Drug Prices
Novo Nordisk, the maker of breakout drugs Ozempic and Wegovy, was among the hardest hit. Its shares slid more than 4% in Denmark on Friday.
Shares in AstraZeneca, the maker of heartburn medication Nexium, fell more than 3% in London. Rival GSK fell more than 4%.
Germany's Merck KGaA lost more than 2.5%. Trump wrote to the company's EMD Serono unit.
In Switzerland, Roche and Novartis fell less than 1%. One of the president's letters was sent to Roche's Genentech arm.
The move follows an executive order signed in May. Pharmaceuticals have also become a key focus in Trump's trade negotiations.
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