With its acquisition of Dotmatics, a developer of software for managing data in life sciences research, Siemens hopes to help cut drug development costs.

Shares in German industrial giant Siemens ( SIEGY -6.48%) were down by more than 6% in trading as of 3 p.m. ET Thursday due to the tariffs imposed on foreign countries by the Trump administration. As a global company with interlinked supply chains that span the globe, Siemens is notably exposed to tariff actions and trade conflicts.