U.S. pharmaceutical imports reached nearly $213 billion in 2024. President Trump announced a temporary reduction of tariffs to 10% for 90 days on most countries, but increased tariffs on China to 125%. This pause did not extend to sector-specific tariffs on pharmaceuticals. Earlier, shares of major U.S. drugmakers like Eli Lilly, AbbVie, Bristol Myers Squibb, Regeneron, Merck, Pfizer, Johnson & Johnson, and Amgen dropped between 2% and 4%. Some foreign companies like AstraZeneca, Novo Nordisk, and Novartis saw positive movements, while GSK fell by 5%. Trump’s administration plans to impose a “major” tariff on pharmaceuticals soon. The U.S. imports of pharmaceuticals have more than doubled in the last decade. Despite efforts by companies like Eli Lilly and Johnson & Johnson to increase U.S. manufacturing, analysts believe reshore production will be costly and time-consuming, potentially disrupting supply chains and increasing drug costs. Eli Lilly announced a $27 billion investment in domestic manufacturing, while Johnson & Johnson committed $55 billion over four years for U.S. manufacturing, research, and technology.
Dan Elton
@moreisdifferent
·
22h Geeze… 90% of drugs in US depend on imports, and 50% of drugs come from India, where Indian businesses have a huge comparative advantage in manufacturing them cheaply. Onshoring pharma supply chains would take decades and there’s no reason to do that in most cases. If this
Mirror Now
@MirrorNow
·
21h #PharmaTariffs: A double-edged needle?
It’s too early to say what’ll happen in each sector, pharma sector exports about $10 billion, cost of making them in US would be higher:
@sudhirmehtapune
, Pinnacle Industries Chairman & MD
#BeyondTheHeadline #TrumpTariffs |
@SnehaMKoshy
George McEwen
@thonlyonee
·
32m “In 2024, the US imported $213bn (£168bn) worth of medicines – more than two and a half times the total a decade earlier.”
Two and a half times?! Do we need that much more? Really?
Silja Russia=Genocide
@SiljaLynx
·
Apr 9 LOSER – The is THE #1 IMPORTER OF PHARMACEUTICALS in the WORLD
: US$89.8 billion = 18% of imported prescription drugs and medicines worldwide in 2023
https://worldstopexports.com/international-markets-for-imported-drugs-by-country/…
Shehzad Qazi
@shehzadhqazi
·
Apr 8 “battle to dominate pharma mfg won’t be easy on US firms…Eli Lilly, Pfizer etc have invested billions in developing complex global supply chains w/ EU a key piece..90% of US biotech firms rely on imported components for 50% of their FDA-approved products”
Silja Russia=Genocide
@SiljaLynx
·
Apr 8 Good Luck to the usa.
The usa exported $81.6 billion but imported $145 billion of pharmaceuticals in 2023.
In fact, the Uusa was the #1country for pharmaceutical imports, importing 18% of the global market share.
https://worldpopulationreview.com/country-rankings/pharmaceutical-exports-by-country…
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