Pharma Stocks Survive Market Rout on Tariff Exemption, but Uncertainty Continues

LONDON/BENGALURU April 3 (Reuters) - Drugmaker stocks gained a temporary reprieve on Thursday as U.S. President Donald Trump spared pharmaceutical products from reciprocal tariffs, but executives and analysts warned it was premature to celebrate as tariffs were still likely to come.

Trump imposed a 10% tariff on most U.S. imports, as well as much higher levies on dozens of rivals and allies alike, but temporarily exempted some goods, including pharmaceuticals, benefiting major exporters including India, Japan and Ireland.

Shares of U.S. drugmakers were mostly flat to down in premarket trading, but the moves were muted compared to other sectors. Johnson & Johnson (JNJ.N) rose marginally, while most others, including Amgen (AMGN.O), fell less than 1%., opens new tab, opens new tab

Asian healthcare stocks surged, led by Indian generic drugmakers, defying the broader market drop. European healthcare stocks (.SXDP) also outperformed., opens new tab

British drugmakers GSK (GSK.L) and AstraZeneca (AZN.L), as well as Danish company Novo Nordisk (NOVOb.CO) rose between 1.5% and 2%, reflecting the relief that pharmaceutical products for now remained out of the crosshairs of the trade wars., opens new tab, opens new tab, opens new tab