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The medicines are stored on the shelves at the pharmacy on May 12, 2025 in Los -Angeles, California.
Eric thera | Gets the image
President Donald Trump According to some analysts, it is planned to impose tariffs on pharmaceuticals imported in the US – and responsibilities may have a greater effect on some drug manufacturers than others.
Trump – told reporters Earlier this month, when its administration begins to implement low pharmaceutical fees as early as August 1 and increase the rate in about a year or 18 months. He threatened To impose up to 200% of the tariffs for imported drugs.
It is still unclear whether it will follow this accurate plan and tariff rate, which makes it difficult to evaluate how policy affects drug producers and patients. Internal drug production operations are also growing, as several companies have recently announced a multi -billion dollar investment in new good will with the president, but it will probably take several years before these sites will work and work.
Some analysts have calculated a potential tariff risk to different companies based on their modern production networks, among other factors.
Abbvie. Bristol Mayers Skibb and Eli Lily Are “relatively well placed” because their production marks in the US are greater than operations abroad Novartis and Rosh Take a look at the risk, TD Cowen Skala Analyst said in a note on Monday.
In a note in March, Jefferi analyst Michael Ei also called Amigen and Biogen As the greatest effects of tariffs among the biotechnology companies it covers. Mainstay and Vertex Pharmaceuticals It will probably be less exhibited, he said.
But biogen in May specified during it Call earnings in the first quarter In May, this expects minimal exposure to Trump tariffs, even if pharmaceutical levies are implemented. All because a significant proportion of revenue in the United States is the products that are engaged in production operations in the country, as well as the company’s current global stocks.
The cliff said that the tariffs are likely to remove a significant bite from the free cash flow of companies at least during the first two years after their implementation. He said it was based on a conversation with an unnamed expert who is a former financial director of the pharmaceutical company.
This expert believes that drug producers will be able to go for drug prices, but their increase is enough to fully compensate for the tariffs “will be politically impossible”, as patients already have problems with the drug, the rock said. He said that drug manufacturers can also go to the reduction in research and development costs, but added that the expert said that the main cuts are unlikely because innovations are key for the long -term growth of each company.
The expert believes that the pharmaceutical tariffs for the higher than 50% will be “problematic for the industry,” the rock added.
“In this script, the company should be very aggressive in the US moving back to the US, and significant cuts to the NDCR will not speak,” Skala said.
In recent months there are some pharmaceutical executives Flashed tariffs for imported drugsSpeaking that they will damage the NDDKR and can lead to fewer treatments for patients. Some experts on health policy issues also previously said CNBC that may disrupt a complex pharmaceutical supply chainPotentially raising drug prices in the US and worsening critical medicine deficiency.
In his statement, Rosh said that the US has a “reliable presence”, which includes 15 research and development sites and 14 production facilities. The company also pointed to recently announced plans to invest $ 50 billion in the US
Rosh said he believes that pharmaceuticals and diagnostics should be released from tariffs for “patients’ access, supply chains and ultimately future innovations”. But the company said it was ready for potential levies and confidently in its ability to manage any consequences and ensure that access to its products is not broken, indicating efforts to mitigate the consequences as inventory adjustments.
Press -secretaries for other analysts mentioned as most risks on the part of the tariffs did not immediately respond to the requests for comment.
Drugs most and at least risk
Medicine Companies have huge production networks, receive active pharmaceutical ingredients from several sources and keep complex patents of intellectual property, the rock said in a separate note in April. He said this leads to equally complex tax strategies and pricing.
The cliff said that most of this information is inaccessible, “making the tariff analysis, to put it mildly.”
But it estimated which companies seem to be in the best and worst position for the weather -based tariffs, including the number and place of production factories, the use of such facilities, the source of active ingredients and the location of patents.
The sign stands near the Abbvie facility in Cambridge, Massachusetts.
Brian Snider | Reuters
said Ebwi’s rock, Astrazeneca. Eli Lily. Measure and Pfizer There are the largest disclosed American production networks with 10 major plants.
But Abbvie, Bristol Myers Squibb and Eli Lilly are the only companies with better -known large plants in the US than abroad, he said. Abbvie and Eli Lilly have nine of these facilities abroad, and in Bristol Mayers Skibb – two.
These three companies also have the highest percentage of sites registered in the US Power Office and medicines for the production of active pharmaceutical ingredients in the US, while Daiichi Sankyo, Novartis and Zoteis There is the least. Rosh and Novo nordisk There is also a low percentage of active ingredients in the US relative to the rest of the world, the record said.
Gsk It has the largest drug production network abroad, with 31 large plants. But the company said it plans to close several of these facilities, Skala said.
Other companies with large production traces abroad include Pfizer with 27 plants, Sanfi with 16, Zoetis with 14 and Elanka of 11. Some drug manufacturers, including Merck, Roche and TakadThey did not reveal how many significant plants they have on the US borders.
He said Ireland is one of the factors to remember, because it seems to be a special goal for tariffs. Trump repeatedly highlighted Ireland To “attract” American drug manufacturers with decades of low tax rates.
Abbvie and Merck have the most registered FDA on drug production sites in Ireland. These facilities produce pharmaceuticals that extend to the US or imported in the US
Some drug manufacturers, including GSK, Novartis and Roche, have no Irish production sites registered with the FDA.
Yee Jefferies emphasized Amgen and Biogen as a risk company from international tax benefits. He said AMGEN conducts production operations in Ireland and Singapore, which reduces the amount of taxes that pay by 6%.
Biogen’s significant production operations are in North Carolina and Switzerland. Yee said the company receives 8% tax benefits due to how taxable profits abroad.
For comparison, the vertex and gilead will be less used by these international tax benefits, Yee said. Vertex produces its preparations in Boston.
He added that while Gilead has a product in Ireland, it basically produces his drugs in California and sells many HIV -Norkotics in the US
When Scala TD Cowen asked how they could soften the cost increase from the tariffs, they pointed out several potential options. This includes the study of alternative sources of active ingredients outside Europe, or studying alternative contracts production in non-European places such as Puerto Rico.
