US pharma tariffs would raise US drug costs by $51 billion annually, report finds
- A U.S. Tariff of 25% on pharmaceutical imports may increase drug costs by nearly $51 billion annually, potentially raising prices by up to 12.9%, according to a report by Ernst & Young.
- The analysis shows the U.S. Imported $203 billion in pharmaceuticals in 2023, with 73% from Europe, mainly Ireland, Germany, and Switzerland.
- Pharmaceutical Research and Manufacturers of America warns that tariffs could jeopardize domestic manufacturing efforts and threaten 490,000 export-related jobs.
18 Articles
18 Articles
US pharma tariffs would raise US drug costs by $51 billion annually, report finds
A 25% U.S. tariff on pharmaceutical imports would increase U.S. drug costs by nearly $51 billion annually, boosting U.S. prices by as much as 12.9% if passed on, a report commissioned by the industry's U.S. trade group and reviewed by Reuters shows.
Pharma tariffs would raise U.S. drug costs by $51 billion annually, report finds
LONDON - A 25% U.S. tariff on pharmaceutical imports would increase U.S. drug costs by nearly $51 billion annually, boosting U.S. prices by as much as 12.9% if passed on, a report commissioned by the industry's U.S. trade group and…
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