Pharma stocks fall on Trump’s proposal to cut NIH budget

The Trump budget plan to slash more than 18% from the budget for the National Institutes of Health sent pharmaceutical stocks down today on Wall Street as investors reacted to the proposal.

The budget proposal, released today, would cut the NIH budget by $5.8 billion, to $25.9 billion – an 18.3% cut. The proposal would also introduce “a major reorganization of NIH’s Institutes and Centers to help focus resources on the highest priority research and training activities.”

Get the full story at our sister site, Drug Delivery Business News.

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