USTR Announces Initiation of Section 301 Investigation of Germany’s Persistent Underpayment for Innovative Pharmaceutical Products
USTR noticeInvestigation openedPublished 06/18Open the original
Summary
USTR Jamieson Greer initiates a Section 301 investigation into whether Germany's persistent underpayment for innovative pharmaceutical products is unreasonable or discriminatory and burdens U.S. commerce. Written comments are due by August 10, 2026, and a hearing will be held on September 22, 2026.
By industry
- Healthcare & Drug Pricing1 trading day−2.4%p15 stocks5 trading days+3.2%p15 stocks20 trading days+5.9%p15 stocks
“whether persistent underpayment for innovative pharmaceutical products by Germany is unreasonable or discriminatory”
Day by day after the announcement
| Day | Healthcare & Drug Pricing stocks | S&P 500 |
|---|---|---|
| 26/06/17 | 0.0% | 0.0% |
| 26/06/18 | −1.7% | +0.6% |
| 26/06/22 | −0.5% | +0.1% |
| 26/06/23 | +0.9% | −1.1% |
| 26/06/24 | +0.9% | −0.7% |
| 26/06/25 | +2.0% | −1.2% |
| 26/06/26 | +4.3% | −1.6% |
| 26/06/29 | +4.1% | −0.3% |
| 26/06/30 | +3.5% | +0.4% |
| 26/07/01 | +4.1% | +0.3% |
| 26/07/02 | +6.4% | +0.2% |
| 26/07/06 | +4.8% | +1.2% |
| 26/07/07 | +7.0% | +0.6% |
| 26/07/08 | +6.6% | +0.3% |
| 26/07/09 | +5.9% | +1.2% |
| 26/07/10 | +5.3% | +1.7% |
| 26/07/13 | +6.4% | +0.8% |
| 26/07/14 | +5.0% | +1.2% |
| 26/07/15 | +4.2% | +1.6% |
| 26/07/16 | +5.9% | +1.0% |
| 26/07/17 | +5.9% | 0.0% |
Korean stocks in these industries
- Samsung Biologics 207940
- Celltrion 068270
- SK Biopharmaceuticals 326030
Trades in these industries around the announcement
Members' and insiders' trades in the industries' stocks, 30 days before to 30 days after.
- Dermot Mark Durcan
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$1.1M
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1,983,387 sh
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370,462 sh
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- John Boozman
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SellJohnson & Johnson
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$1.4M
10,900 sh
$1.4M
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- Tommy Tuberville
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$15K–$50K
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$15K–$50K
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- Brian S. Tyler
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MCK
$6.6M
8,463 sh
$6.6M
Filed 06/18
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- Larry Robbins
SellCVS Health
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$6.4M
66,881 sh
$6.4M
Filed 05/21
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- Daniel Patrick O'Day
Sell10b5-1 planGilead Sciences
Sell10b5-1 planGilead Sciences
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$404.9K
3,062 sh
$404.9K
Filed 06/02
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- Andrew D. Dickinson
Sell10b5-1 planGilead Sciences
Sell10b5-1 planGilead Sciences
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$376.2K
3,000 sh
$376.2K
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- Brian S. Tyler
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MCK
$3.8M
4,929 sh
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- Thomas Kean
Partial saleJohnson & Johnson
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JNJ
$1K–$15K
Self
$1K–$15K
Reported 07/15
Traded 06/29
- Thomas Kean
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JNJ
$1K–$15K
Self
$1K–$15K
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- Rick Larsen
BuyMcKesson
BuyMcKesson
MCK
$1K–$15K
Self
$1K–$15K
Reported 07/12
Traded 07/08
- Ilya Yuffa
Sell10b5-1 planELI Lilly
Sell10b5-1 planELI Lilly
LLY
$2.9M
2,500 sh
$2.9M
Filed 06/11
Traded 06/10