The pharma group has just announced that it will build four new manufacturing facilities in the US – at a cost of around $27 billion – raising its total planned spending on US capital projects to more than $50 billion, which it claims is the largest pharma manufacturing investment in US history.

While announcing billions of dollars in new U.S. investments, company chief David Ricks called for an extension of 2017 tax cuts and changes to Medicare's drug negotiation program.

Stocks have been under pressure in recent days due to lacklustre US economic data and worries about Mr Donald Trump’s policies. During a Cabinet meeting, the US president said he expects 25 per cent tariffs on the European Union. The Dow Jones Industrial Average finished down 0.4 per cent at 43,433.12.