The pharmaceutical industry is bracing for a significant financial blow. Analysts forecast costs of between $13 billion and $19 billion following a new transatlantic trade deal. This deal will subject branded medicines to a hefty 15% tariff. Officials confirmed the landmark trade agreement between the European Union and the United States on Sunday. It marks the end of the historic…
Tag: tariffs
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Trump’s Tariff Stick Won’t Bring Generic Drug Manufacturing Home
President Donald Trump’s administration has championed Trump’s Tariff Stick as a means to compel global industries to relocate manufacturing to the United States. However, for the generic drug sector, which supplies roughly 90% of all medicines consumed by Americans, Trump’s Tariff Stick is a blunt instrument with potentially damaging outcomes. Industry leaders are cautioning that, instead of encouraging domestic production,…
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Pharmaceutical tariffs could hike drug costs by billions
A recent analysis commissioned by the Pharmaceutical Research and Manufacturers of America (PhRMA) indicates that a potential 25% tariff on pharmaceutical imports into the United States could dramatically increase the cost of medications for American patients. The Ernst & Young report estimates that US drug costs could surge by nearly $51 billion annually. This could lead to a price increase…
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Trump’s Pharmaceutical Tariffs to Boost US Manufacturing?
The Trump administration is preparing new trade measures. These plans could reshape the global drug industry. Trump’s pharmaceutical tariffs target imported medicines and their core ingredients. This follows the President’s “America First” agenda. He uses tariffs to protect American industries. These measures aim to help US manufacturing flourish. They also reduce dependency on other nations. The Goal Behind Trump’s Pharmaceutical…
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SA Pharma Sector Unfazed by US Tariffs Impact
The SA pharma sector remains unfazed. South Africa’s largest trade association for pharmaceutical manufacturers has stated that it foresees no immediate risk to the local sector. This follows the announcement of sweeping tariffs by US President Donald Trump last week. According to Stavros Nicolaou, Chair of the Pharmaceutical Task Group (PTG), several factors mitigate the impact on the nation’s drug…
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Pharmaceutical industry fights to shield drugs from tariffs
Pharmaceutical giants are actively lobbying the Trump administration and European Union officials to exclude medical goods from escalating trade disputes. They fear significant price increases and restricted patient access to essential medications. The industry’s concerns centre on the potential impact of tariffs on top-selling drugs like Novo Nordisk’s Wegovy for weight loss and Merck’s cancer immunotherapy Keytruda. In discussions with…