European pharmaceutical companies have warned of a possible exodus to the U.S. following Donald Trump’s renewed threat to impose tariffs on drug imports. Stocks in the sector dropped globally after Trump indicated further tariffs beyond the 20% ‘reciprocal tariffs’ that recently took effect. Shares of major drugmakers like AstraZeneca, GSK, Roche, and Sanofi fell significantly. Although pharmaceuticals have been exempt so far, Trump has suggested a large tariff on drug imports is imminent. EU firms have urged rapid action from the European Commission to mitigate risks. Ireland, a major hub exporting €44 billion in pharmaceuticals to the U.S., could be heavily impacted. Trump claims tariffs will incentivize companies to relocate to the U.S., citing the country’s large market. The European Federation of Pharmaceutical Industries and Associations (EFPIA) warns that billions in planned investments in the EU could shift to the U.S., jeopardizing jobs and innovation.
— new from The Guardian
