USAID Cuts Impact US Drugmakers
“The Trump administration has made cuts to the President’s Emergency Plan for AIDS Relief, or Pepfar, which supplies antiretroviral drugs to millions of people globally. The administration has also suspended the work of the U.S. Agency for International Development, which helped administer Pepfar.
The CDC has estimated that about 1.2 million people in the U.S. are living with HIV. About 13% of them don’t know they have the virus.
The cuts could affect drugmakers like Gilead and Viiv Healthcare, which sell HIV/AIDS medicines. Gilead stock dropped nearly 3%, while American depositary shares of GSK, majority owner of Viiv, were down less than 1% in after-hours trading, following The Wall Street Journal’s report on the administration’s discussions.”