Drugmakers brace for Trump tariffs, while weighing numerous other worries
(Reuters) -Major drugmakers were a standout on a tumultuous day of corporate earnings on Thursday, beating expectations even as they grapple with the threat of sector-specific tariffs, efforts to lower drug prices and federal layoffs that could undermine efforts to invest heavily in the U.S. in coming years. Bristol Myers Squibb, Merck & Co, Sanofi and Roche all exceeded quarterly earnings expectations on Thursday, and Bristol raised its profit forecast. Still, drugmakers are grappling with several factors that could cause upheaval, such as Trump administration efforts to shrink the federal workforce, including at the U.S. Food and Drug Administration, and probes into pharmaceutical imports that set the stage for levies on the sector.