Biotech stocks hit with Trump's sights on drugmakers

Biotech shares slumped with US President Donald Trump setting out to compel drugmakers to bring overseas manufacturing back to the United States.

WuXi Biologics (2269) declined by 8.27 percent while WuXi AppTec (2359) lost 8 percent.

Pharmaron Beijing (3759) decreased 5.41 percent and Viva Biotech (1873) went down 7.55 percent.

According to a Bloomberg report, Trump said in a private meeting that tariffs are coming and that companies should hustle to move overseas manufacturing to the US.

STAFF REPORTER