"President Trump has signed an executive order that could impose tariffs of up to 100 percent on some patented drugs if pharmaceutical companies do not reach deals with his administration in the coming months."
"Under the executive order, companies with a most favored nation pricing deal and US facilities will face a zero-percent tariff, while those without a pricing deal will incur a 20 percent tariff, increasing to 100 percent in four years."
"The administration has already reached 17 pricing deals with major drugmakers, with 13 companies having signed agreements, indicating a push for negotiations before the tariffs take effect."
"Critics, including pharmaceutical leaders and medical groups, have warned of the potential consequences that the new tariffs could bring to the industry and healthcare costs."
President Trump signed an executive order allowing tariffs of up to 100% on patented drugs if pharmaceutical companies do not negotiate pricing deals. Companies with a most favored nation pricing deal and US facilities will face zero tariffs. Those without a pricing deal but building projects in the US will incur a 20% tariff, increasing to 100% in four years. The administration has reached 17 pricing deals with major drugmakers. Critics warn of potential negative impacts from these tariffs on the pharmaceutical industry.
Read at www.aljazeera.com
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