“dummyPub”>
A group of European pharmaceutical CEOs has warned that without swift and radical policy changes, Europe risks losing its pharmaceutical research, development, and manufacturing to the United States. The executives issued this caution in a statement following their meeting with European Commission President Ursula von der Leyen.
Recent tariffs announced by U.S. President Donald Trump do not impact pharmaceutical products from the European Union, offering some respite to the industry. However, the sector remains concerned, pointing out that the U.S. surpasses Europe in all investment indicators, such as capital availability, intellectual property, rewards for innovation, and approval speed.
With the introduction of these tariffs, the risks of reduced incentives for investing in the EU are evident, while substantial incentives exist for relocation to the U.S., the executives noted.
On Wednesday, President Trump declared the imposition of a baseline global tariff of 10% on countries he accuses of creating trade barriers against American goods. An additional tariff targets what he deems the “worst offenders.” A 20% tariff will be specifically applied to all imports from the European Union.
