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Albert Burla, Chairman and CEO of Pfizer, performs at the Future Festival of the whole Wall Street Journal in New York, USA, May 22, 2024.
Andrew Kelly | Reuters
Pfizer CEO Albert Burla said on Tuesday that uncertainty around the planned President Donald Trump Pharmaceutical tariffs Holds the company from further investment in the production and development of the US.
Burla’s remarks about the company Call earnings in the first quarter In response to the question that Pfizer wants to see from the tariff talks that push companies to increase investment in the US, it comes when Trump’s drug producers for pharmaceuticals imported into the country are the application of its administration to enhance home production.
“If I know that there will be no tariffs … Then there may be huge investments in this country, both in the NDCR and in production,” Burla said, adding that the company also hopes for “certainty”.
“During periods of uncertainty, everyone controls their expenses as we do, and then very careful about our investments as we do, so we are ready for Remit. So, I want to see,” Burla said.
Burla noted that the tax environment, which previously pushed the production abroad, “changed significantly” by establishing a world minimum tax of about 15%. He said Shift did not necessarily make the US more attractive, saying that “not so good” invest here without additional incentives and clarity around tariffs.
“Now (Trump) I am sure – and I know because I talked to him – what would like to even reduce the current tax regime, especially for local products made,” Burla said, adding that further reduction would be a strong incentive for the US in the US
Unlike other companies fighting the developing trade policy, Pfizer did not revise his look at the full year on Tuesday. However, the company noted in its production that management “currently does not include any potential impact related to future tariffs and changes in trade policy that we cannot predict at this time.”
But on Tuesday’s profits, Pfizer’s leaders said the management reflects $ 150 million from Trump’s existing tariffs.
“There are several tariffs in our instructions that we haven’t really talked about today,” said Pfizer Dave Denton, Pfizer CEO.
“We are considering that within our guide range and we continue the trend again to the top end of our guide, even with the costs that will be incurred this year,” he said.
