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Why Roche Holding, Eli Lilly, and AstraZeneca Stocks Dropped Today
Might the tariff risk for pharmaceutical stocks be less than you think?
Just like the rest of the stock market, pharmaceutical stocks are in a funk approaching the midweek mark, and it's looking like things might be about to get even worse for this particular pocket of the stock market. On Wednesday, Reuters reported that President Donald Trump is preparing to unveil a new series of tariffs on pharmaceutical imports.
Investors are nervous. As of 9:55 a.m. ET Wednesday morning, shares of Roche Holding (OTC: RHHBY) are down 2.3%, Eli Lilly (NYSE: LLY) stock is off 3.2%, and AstraZeneca (NASDAQ: AZN) is doing worst of all -- down 4.9%.
Today's announcement could potentially add to a string of bad tariff news that has cost Roche 10.9%, Lilly 14%, and AstraZeneca stock 14.4% over the past week. Still, it remains to be seen precisely how bad this news will be.
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