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European stocks soared on Thursday after U.S. President Donald Trump's jarring about-turn on most tariffs. Tensions between Washington and Beijing remain high, however, with Trump ratcheting up duties on goods from China to 125% and citing a "lack of respect.
In the closing of the recent trading day, Bristol Myers Squibb (BMY) stood at $53.78, denoting a +1.34% change from the preceding trading day.
Evan Seigerman, BMO, joins 'Fast Money' to talk the impact of tariffs on pharma space.
The Trump administration's proposed tariffs on pharmaceuticals have caused significant market turmoil today, with major Pharma stocks plummeting globally. Despite pledges to increase U.S. manufacturing, companies like Eli Lilly and Novo Nordisk are suffering substantial share price declines. The feasibility of relocating drug manufacturing to the U.S. is highly questionable, potentially leading to drug shortages and higher domestic prices.
Bristol Myers gets FDA approval for Opdivo monotherapy and Opdivo plus Yervoy combination for colorectal cancer in the first-line setting.
U.S. President Donald Trump late on Tuesday reiterated he would impose tariffs on imports of pharmaceutical products that have long been spared from past trade disputes due to the potential for harm to patients.
Trump doubled down on plans to soon impose "major" pharmaceutical tariffs, while early stage startups dominated digital health funding deals in first quarter.
Shares of drugmakers were taking a broad beating Wednesday, after President Donald Trump indicated that pharmaceuticals will no longer be excluded from tariffs.
Bristol Myers Squibb won the dismissal of a proposed class action accusing it of fraudulently obtaining patents and filing sham patent lawsuits to maintain an illegal monopoly on its blockbuster blood cancer drug Pomalyst, keeping cheaper generic versions off the market.
PRINCETON, N.J.--(BUSINESS WIRE)---- $BMY #CRC--US FDA Approves Opdivo plus Yervoy as a Treatment for Patients with Previously Untreated Microsatellite Instability-High or Mismatch Repair.