Prognosis

Drug Companies Aren’t Finding a Friend in Trump

Donald Trump during his tariff announcement in the Rose Garden of the White House in Washington on April 2. — Donald Trump during his tariff announcement in the Rose Garden of the White House in Washington on April 2.
Photographer: Kent Nishimura/Bloomberg

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By Cynthia Koons and Madison Muller

April 8, 2025 at 10:00 AM UTC

This article is for subscribers only.

Hi, this is Cynthia and Madison in New York, where we spent yesterday watching drug company shares whipsaw. More on pharma in a moment, but first ...

With global markets crashing, drug company stocks would seem like a good place to stash money. But in President Donald Trump’s new economy, that isn’t turning out to be the case.