Danaher (DHR) Surges as Pharma Tariffs to Benefit Firm

We recently published 11 Stocks Crushing Wall Street With Whopping Gains. Danaher Corp. (NYSE:DHR) is one of the top performers on Tuesday.

Danaher extended gains to a third consecutive day on Tuesday, jumping 6.56 percent to close at $198.26 apiece and tracking the rally in US pharmaceutical stocks ahead of the imposition of 100 percent tariff on imported drugs.

By tomorrow, October 1, the US will begin slapping levies on pharmaceutical products entering the US, except for companies that are already investing in manufacturing facilities in the country.

The tariffs are set to significantly raise the prices of imported products, making domestically produced ones more cost-efficient and attractive to customers.

Danaher Corp. (NYSE:DHR), an American company developing products for biotechnology, life sciences, and diagnostics, stands to benefit from the import levy as it could make its drugs more price-competitive, while reducing pressure from international players.

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READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.