What will be "the Trump effect"?

On November 8, as it gradually became apparent that Donald J Trump was about to defy the expectations of the world to become the 45th President of the United States, markets in Asia opened and nervous investors promptly began to dump shares.

Pharmaceutical stocks, however, remained strong. While markets in general were not sure what to make of “The Donald,” drug companies had a clear view driven by fears of a tougher regulatory environment and the drug price crackdown promised by Democrat nominee Hillary Clinton.

For pharma companies, the “Trump dump” was to occur later, during a press conference in January, when the soon-to-be-inaugurated President-elect provided the first unambiguous post-election insight into his stance towards the industry.