1 August 2025, 15:01 United Kingdom: FTSE 100 Falls Led by Pharma Stocks.
The FTSE 100 fell over 0.7% on Friday, pressured by global tariff concerns and sharp losses in pharmaceutical stocks. AstraZeneca dropped 3.6% and GlaxoSmithKline fell 1.8% after President Donald Trump ramped up pressure on drugmakers, demanding they lower US prices to match international levels. Letters were sent to 17 major pharmaceutical firms urging immediate price cuts for Medicaid and pricing parity on future drugs. This renewed focus on drug costs added to uncertainty in the sector, with additional levies on pharma expected soon. Intertek was the index’s worst performer, down more than 7%. On the upside, Melrose gained 5.7% after reporting strong cash flow, and Pearson rose 4.7% on results that exceeded expectations. International Airlines Group climbed 1.7% after beating forecasts, with analysts noting solid demand and expecting upward revisions to earnings estimates.
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