AstraZeneca IncUK-based AstraZeneca plc has become the second of 17 pharmaceutical companies, after Pfizer Inc., to accept U.S. President Donald Trump’s proposal to voluntarily lower drug prices and move production to the United States. In return, the company will benefit from a three-year exemption from U.S. import tariffs on prescription drugs manufactured outside the country.
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U.S. Department of CommerceAfter the surprising announcement of a 100% tariff on all prescription drugs imported into the United States, the US government appears to be backtracking. Within a few days, its trade policy stance towards the pharmaceutical industry has shifted fundamentally.
Adobe stock Photos - hkama Overnight, US President Donald Trump broke previous tariff agreements with the United Kingdom and the EU, announcing that from 1 October, patented medicines not produced in the US will be subject to a 100% tariff.
adobe stock - peterschreiber.media Despite the World Trade Organisation’s (WTO) ban of tariffs on pharmaceuticals, US President Donald Trump has announced he would consider imposing tariffs on pharmaceutical products. In a fast reaction, Swiss pharmaceutical giants Roche and Novartis, which are heavily dependent on the US market, have announced upcoming investments in the US as a production location by 2030.