We recently published 11 Stocks Crushing Wall Street With Whopping Gains. Avantor Inc. is one of the top performers on Tuesday.
Avantor Inc. saw its share prices grow by 5.41 percent on Tuesday to close at $12.48 apiece as investor funds poured into stocks of pharmaceutical companies a day ahead of the imposition of levies on imported drugs.
On September 25, President Donald Trump announced the imposition of 100 percent tariff on imported branded or patented pharmaceutical products beginning October 1, but those building a manufacturing plant in the US will be spared from such.
In line with the new policy, the US government has conducted a national security investigation to determine tariffs on pharmaceuticals.
Avantor Inc.—a US-based biotechnology and pharmaceutical company—stands to benefit from the import levies as it would markedly raise the prices of imported brands and make domestic alternatives more affordable and attractive to customers.
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This article is originally published at Insider Monkey.
