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AstraZeneca has rejoined the main U.S. drug lobby group, roughly two years after leaving it, the Pharmaceutical Research and Manufacturers of America (PhRMA) said on Tuesday.
Trump's tariff policy is the latest uncertainty to plague the pharmaceutical sector.
AstraZeneca PLC (LSE:AZN) reported notable progress in ongoing trials of patients with metastatic breast cancer using a combination of drugs, Enhertu and pertuzumab. Enhertu, jointly developed by the Anglo-Swedish drug company and Japan's Daiichi Sankyo, is being combined with Roche's pertuzumab in the DESTINY-Breast09 Phase III trials, and showed a statistically significant and clinically meaningful improvement in progression-free survival.
AZN's key medicines, mainly cancer drugs, Lynparza, Tagrisso and Imfinzi, are expected to have driven the company's top line.
The three pharma stocks in this analysis all look a bit mixed in the premarket, after seeing some momentum late last week. This is especially true with LLY, as you will see on the charts.
After years of strong returns, amidst the tariff-induced uncertainty, I am rotating towards European-based equities. US economy is facing mounting pressures, via weakening consumer demand, reduced CAPEX spending, inflation, and rising recession odds. European equities are relatively cheap, and despite structural issues, pockets of opportunities exist in high-growth areas and via re-arming Europe initiative.
Nearly three dozen global pharmaceutical companies, in a letter to the head of the European Commission, demanded help to maintain operations in the EU despite threatened U.S. tariffs on imports, including measures to compensate them for the cost of pharmaceutical innovations, French business newspaper Les Echos reported on Tuesday.
President Donald Trump said tariffs on pharmaceuticals will be coming in the “not too distant future” and fit in the category of tariffs imposed on cars, steel, and aluminum. Trump spoke with reporters Monday in the Oval Office.
U.S. President Donald Trump said on Monday that he expects to impose tariffs on imported pharmaceuticals in the not-too-distant future.
AbbVie's, Rinvoq and AstraZeneca's and Novartis are included in this Analyst Blog.