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Market Update for Week of July 25, 2025
The Week at a Glance:
More Market Record Highs: The S&P 500 notched record highs last week, as major indices were lifted thanks to the US trade deal with Japan, continued indicators of a robust labor market and strong tech earnings
Sarepta’s Drama Continues: Sarepta Therapeutics notified the FDA of its decision to voluntarily and temporarily pause all shipments of ELEVIDYS (delandistrogene moxeparvovec) for Duchenne muscular dystrophy in the United States
Roche also announced that they are pausing the shipment of ELEVIDYS in a handful of countries outside the US
On July 28, Sarepta announced that the FDA informed the company that it recommends Sarepta remove its pause and resume shipments
The US and EU Strike a Deal: President Trump and EU Commission President Ursula von der Leyen announced a trade deal on Sunday where the European Union’s 27 countries will be charged a baseline tariff of 15% on most exports to the US, which still needs to be approved by both US and EU political bodies
While the deal does not explicitly include pharmaceuticals, senior US officials said a 15% tariff for EU pharma exports was agreed upon. However, von der Leyen notes that how Trump wishes to deal with pharmaceuticals in general globally is to be determined