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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.
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USA Today broke the news in United States on Friday, April 25, 2025.
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