President Trump Just Announced Terrible News for Eli Lilly Investors
President Donald Trump's second term in office has been challenging for investors, at least so far. Trump imposed sweeping tariffs on imports from most countries worldwide. For now, several industries have escaped these trade policies, including pharmaceuticals. However, recent developments suggest that it won't last much longer. That could be bad news for leaders in this sector, including Eli Lilly (NYSE: LLY), the largest pharmaceutical company in the world by market cap. Should investors give up on the stock?On May 5, Trump signed an executive order to help boost U.S.-based drug manufacturing. Among other things, the president wants to make it easier and faster for the U.S. Food and Drug Administration to inspect drug manufacturing sites. Trump has explicitly said that his trade plans aim to bring back manufacturing to the U.S. And in addition to this executive order, he stated that his administration would announce pharmaceutical-specific tariffs within two weeks.Image source: Getty Images.Continue reading
President Donald Trump's second term in office has been challenging for investors, at least so far. Trump imposed sweeping tariffs on imports from most countries worldwide. For now, several industries have escaped these trade policies, including pharmaceuticals. However, recent developments suggest that it won't last much longer. That could be bad news for leaders in this sector, including Eli Lilly (NYSE: LLY), the largest pharmaceutical company in the world by market cap. Should investors give up on the stock?
On May 5, Trump signed an executive order to help boost U.S.-based drug manufacturing. Among other things, the president wants to make it easier and faster for the U.S. Food and Drug Administration to inspect drug manufacturing sites. Trump has explicitly said that his trade plans aim to bring back manufacturing to the U.S. And in addition to this executive order, he stated that his administration would announce pharmaceutical-specific tariffs within two weeks.
Image source: Getty Images.
