European Pharma Stocks Decline Amid U.S. Drug Price Reduction Demands

European pharmaceutical stocks have taken a hit following U.S. demands for reduced drug prices. Major players like Novartis (NVS), Sanofi (SNY), GSK (GSK), AstraZeneca (AZN), and Novo Nordisk (NVO) have seen a decline in shares. This comes after U.S. President Donald Trump urged 17 global drugmakers to offer Medicaid patients their ‘most-favoured-nation’ prices by September 29, triggering a significant reaction in the stock market.