President Trump announced 100% tariffs on branded pharmaceuticals starting Oct. 1 unless drugmakers build plants in the US. Big drugmakers’ share prices remain steady. Big Pharma companies with US manufacturing facilities may be exempt from the tariff. Some drugs with supply chains in UK, Switzerland, etc., may face impact.

The impact of the new tariff on Big Pharma companies is uncertain. Most US and European companies may not be significantly affected. Eli Lilly and Novo Nordisk’s obesity drugs are mostly contained in the US and EU. Novartis and GSK have supply chains in regions without a tariff cap, but their US investments may exempt them from the tariff.

Read more at Morningstar: Trump Announces 100% Tariffs on Branded Pharmaceuticals; Drugmaker Share Prices Unperturbed