SEOUL: Shares of South Korean drugmakers declined on Friday following US President Donald Trump’s threat to impose new tariffs on pharmaceuticals.
Samsung Biologics dropped 1.6%, moving away from a more than eight-month low, while SK Biopharmaceuticals slid 2.6%.
Celltrion bucked the trend by rising 1.3% after recovering from earlier losses.
The company announced on Tuesday it had paid $330 million to acquire Imclone Systems LLC from Eli Lilly in the United States.
President Trump threatened 100% duties on all imports of branded drugs starting October 1.
This measure would apply unless manufacturers have already begun construction on production facilities within the United States. – Reuters
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