Europe closes lower on Trump's remarks

Tuesday, 31. January 2017 17:32

Major European indexes closed in the red on Tuesday following US President Donald Trump's vow to bring down drug prices.

Trump held a meeting with pharma CEOs, including Novartis, Merck, Johnson & Johnson, Celgene, Eli Lilly and Amgen. He said the pricing had been "astronomical" and drug prices had to be lowered. He also called on the companies to manufacture medical products in the United States and promised to cut regulations.

German DAX saw the biggest losses, falling 1.25%. Merck dropped 1.07%. 

French CAC was down 0.44% while Swiss SMI declined 0.35%. Novartis gained 0.63%. 

The FTSE 100 finished 0.11% in the red.

Image: EPA / BORIS ROSSLER

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