European pharma stocks largely steady amid new US tariff onslaught

Galderma AG

26/09/2025 08:43

** European major pharma stocks are little changed after Trump announced 100% duties on branded drugs

** Basket of European healthcare stocks .SXDP up 0.07% at 0726 GMT vs 0.4% rise for Europe-wide STOXX .STOXX index

** Vontobel says big pharma should be shielded as most have U.S. presence, announced large investments

** Genmab GMAB.CO, Zealand Pharma ZELA.CO, UCB UCB.BR, Galderma GALD.S down 1.3%-2.4%

** Novo Nordisk NOVOb.CO falls 1.5%, Bayer BAYGn.DE drops 0.7%

** Roche ROG.S down 0.1%, Novartis NOVN.S up 0.2% - analysts see limited impact on Swiss giants

** Vontobel notes unclear situation for Galderma, whose neuromodulators produced outside U.S.

 (Reporting by Anna Pruchnicka)

 ((anna.pruchnicka@tr.com))