Pharma Firms React to US Tariff Announcements
The Trump administration's proposal to impose a 100% tariff on imported branded pharmaceuticals has prompted a reaction from firms like AstraZeneca and Sanofi, as well as global companies like Roche and Novartis, who are boosting their U.S. manufacturing presence. Trump repeated unverified health claims causing concern.
President Donald Trump's recent announcement to impose a 100% tariff on imported branded or patented pharmaceuticals has sent ripples across the global pharmaceutical industry. The tariff, set to be enforced from October 1, targets firms that are not building manufacturing plants within the United States.
AstraZeneca, in response to the healthcare pressure, has agreed to offer up to 70% discounts on specific medications directly to U.S. patients. Meanwhile, French firm Sanofi plans to charge $35 for a month's supply of insulin for U.S. patients with prescriptions. Both moves coincide with Trump's disputed medical advice on Tylenol and vaccines, defying scientific backing.
Moreover, companies such as Roche and Novartis underline their U.S. expansion plans, suggesting they're confident in sidestepping the tariff impact. This comes as Fractyl Health reported positive study outcomes for its experimental weight-loss procedure, reinforcing the company's stock market performance.
(With inputs from agencies.)
Google News