"The new tariff will only apply to branded drugs and their active ingredients. Generic drugs, which make up more than 90% of medicines sold in the US, will be exempted from tariffs for at least one year."
"Companies that plan to increase their domestic manufacturing will see a 20% tariff that will increase to 100% in four years. The US has already agreed to exemptions for 17 drugmakers, four of which are still being negotiated."
"The executive order risks creating an unfair two-tiered system of exemptions benefiting only big companies that have already made most-favored-nation deals with Trump, said the Midsized Biotech Alliance of America."
"US patients by far pay the most for prescription medicines, often nearly triple what patients pay in other developed nations."
Donald Trump announced potential 100% tariffs on pharmaceutical companies failing to negotiate lower drug prices in the US. The tariffs will apply only to branded drugs and their active ingredients, while generics are exempt for a year. Companies entering pricing agreements with the White House or increasing domestic production will also be exempt. The executive order may create an unfair system favoring large companies, as mid-sized drugmakers struggle with sudden cost increases. The move aims to address high US drug prices compared to other developed nations.
Read at www.theguardian.com
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