Asian pharma stocks tumble on Trump signal to cut U.S. drug prices

Asian pharmaceutical companies saw their shares fall after U.S. President Donald Trump announced a plan to reduce prescription drug costs, aligning them with global standards, leading to a decline in markets like Japan's Topix despite lingering expectations from a potential U.S.-China trade deal. Chugai Pharmaceutical, Daiichi Sankyo, and Takeda among others saw significant drops, while counterparts in Hong Kong, South Korea, and India also experienced selling pressures as investors weighed the impact of Trump's announcement against broader market trends.