Pharmaceutical companies’ shares dropped in price on July 5 after President Donald Trump said his administration is working on an executive order that would require drug companies to price their medicines based on the lowest amount paid for the same drug by another nation.
SPDR S&P Pharmaceuticals, an exchange-traded fund that tracks the stocks of major pharmaceutical companies, fell 1.6 percent on July 5. The index began declining immediately after Trump told reporters on the White House lawn about preparations for the executive order.
