President Trump’s 100% tariff on imported branded pharmaceuticals is expected to hit American consumers and global drug stocks, but there are loopholes: generic drugs are excluded and there are exemptions for companies building U.S. plants. U.S. pharma stocks rose marginally on the news. Asian drug shares were hit hardest.

President Trump’s overnight decision to impose a 100% tariff on imported pharmaceuticals starting October 1 is already whacking the stock prices of foreign drug companies as analysts struggle to digest how damaging the hit to the drug business will be.

“Starting October 1st, 2025, we will be imposing a 100% Tariff on any branded or patented Pharmaceutical Product, unless a Company IS BUILDING their Pharmaceutical Manufacturing Plant in America,” the president said o

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