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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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.
·United Kingdom
Read Full ArticlePharma 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…
·New Hampshire, United States
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Total News Sources18
Leaning Left4Leaning Right1Center4Last UpdatedBias Distribution44% Left, 44% Center
Bias Distribution
- 44% of the sources lean Left, 44% of the sources are Center
44% Center
L 44%
C 44%
11%
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