On the morning of May 7, the share price of Samsung Biologics plunged by more than 3% on the domestic stock market, following U.S. President Donald Trump's announcement that he would unveil itemized tariffs on pharmaceuticals within two weeks.
As of 9:35 a.m. on this day, Samsung Biologics was trading at 1,049,000 won per share, down 3.32% from the previous session. Earlier in the session, the price had dropped to as low as 1,034,000 won.
This decline is attributed to renewed concerns over tariffs after President Trump stated that he would announce itemized tariffs on pharmaceuticals "within the next two weeks." Last month, he also instructed the Department of Commerce to investigate the impact of pharmaceutical imports on national security under Section 232 of the Trade Expansion Act.
On the same day, Celltrion also showed a decline of around 2%. In the KOSDAQ market, Alteogen fell by 2.95% and Samchundang Pharm dropped by 4.37%, highlighting the pronounced weakness in bio stocks.
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