Von der Leyen urged to take ‘rapid and radical action’ as president says tariffs on pharmaceuticals coming ‘shortly’

Summary

EU pharmaceutical companies warned of a potential investment exodus to the US after Donald Trump threatened major tariffs on drug imports.

Shares of leading firms like AstraZeneca and Sanofi dropped sharply, following newly imposed 20% “reciprocal” tariffs.

Industry group EFPIA—whose members include Bayer, Novartis, Novo Nordisk (maker of Ozempic), Pfizer, Lilly, Gilead, GSK, Teva, and Merck—met EU President Ursula von der Leyen hours before Trump’s remarks.

EFPIA said €16.5B in investment is at risk. Firms fear job losses and R&D shifts without urgent EU reforms.

  • Hobbes_Dent@lemmy.world
    201·
    22 days ago

    Bend for him or we’ll leave one huge market for another and expect you to still buy.

    Which people probably will.

    Fuck the USA.

  • Rentlar@lemmy.ca
    9·
    22 days ago

    Hey Europe, it might be soon time to bring out that anti-coercion instrument, sounds like quite a bit of coercion going on. US patent law also is a juicy target if the American profiteers do decide to leave.

  • Phoenixz@lemmy.ca
    41·
    22 days ago

    Good luck with that exodus as all the scientists you’re going to need are on their way TO Europe

  • gmtom@lemmy.world
    1·
    22 days ago

    Yeah, but due to the reciprocal tariffs, they will only invest enough for the US market, they will still produce drugs for the rest of the world in Europe.