This week, drugmakers had a scare when President Trump threatened to levy tariffs of up to 250% on imported pharmaceuticals. The news jolted the health care sector, which fell by 2.74% over the past five days, compounding its struggles this year, which have resulted in its 5.13% loss—the worst among all 11 sectors in the S&P 500.
On an individual level, some Big Pharma companies experienced more pain than others. Novo Nordisk (NYSE: NVO), which reported disappointing earnings on Aug. 6, fell 5.79% over the past five days before rebounding on weak trial data from Eli Lilly (NYSE: LLY). The latter company’s experimental weight-loss pill fell short of expectations, sending shares down by nearly 11% over the same period while helping Novo Nordisk rebound from subpar earnings and the Trump tariff announcement.
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