"On Thursday, President Donald Trump announced that the US will impose a 100% tariff on branded or patented pharmaceutical products that are entering the country, starting October 1. This is not the first time President Trump has discussed implementing tariffs on pharmaceuticals. Back in August, Trump mentioned on CNBC's Squawk Box that he planned on charging a "small tariff" on pharmaceuticals and potentially raising it over a year or more to 150% and even 250%."
"Alex Schriver, senior vice president for Pharmaceutical Research and Manufacturers of America (PhRMA), said in a statement that he's worried about how this will impact the industry. "Every dollar spent on tariffs is a dollar that cannot be invested in American manufacturing or the development of future treatments and cures," he said. "Medicines have historically been exempt from tariffs because they raise costs and could lead to shortages.""
President Donald Trump announced a 100% tariff on branded or patented pharmaceutical imports entering the United States effective October 1, with exemptions only for companies building manufacturing plants in America. Trump previously signaled plans for smaller tariffs that could rise to 150% or 250% over time. Some companies, including Roche and Novartis, have considered building US facilities to avoid the tariffs. PhRMA warned that tariffs divert funds from American manufacturing and drug development. PhRMA also noted that establishing pharmaceutical manufacturing capacity typically takes five to ten years, longer than the 12–18 months suggested by the administration. Public reaction expressed concern about higher prescription costs and delays.
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