Media, ad stocks slip after report RFK Jr. plans crackdown on pharma ads

Omnicom

17/06/2025 16:40

** Shares of some media and advertising firms fall after a Bloomberg News report says the Trump administration plans to crack down on pharmaceutical ads

** Shares of ad firms Interpublic Group IPG.N and Omnicom down ~1%, while media firm Warner Bros Discovery WBD.O fell 3% and Walt Disney DIS.N was down marginally

** The new policies could threaten a key source of revenue to advertising and media companies - BBG

** Companies spent $10.8 billion in 2024 on direct-to-consumer pharmaceutical advertising in total - BBG

** "We are exploring ways to restore more rigorous oversight and improve the quality of information presented to American consumers," Andrew Nixon, communications director at the U.S. Department of Health and Human Services, says

** No final decisions have been made, Nixon adds

** Drugmakers' shares also fell: AbbVie ABBV.N 1.4%, Pfizer PFE.N 1%

** IPG, DIS, WBD, ABBV, PFE did not immediately respond to requests for comment

 (Reporting by Zaheer Kachwala and Jaspreet Singh in Bengaluru)

 ((Zaheer.Kachwala@thomsonreuters.com))