STAT+: Biotech companies are struggling to navigate Trump’s new tariffs
Smaller biotech firms are trying to figure out how to win exemptions from Trump's import taxes.
Washington — The Trump administration's imposition of a 100% tariff on imported pharmaceuticals took effect at the end of September, leaving biopharma companies scratching their heads over how to secure exemptions. In April, the White House announced the tariffs, targeting both patented drugs and their active ingredients. The administration had previously provided various avenues for companies to lessen the financial burden, such as reaching a most-favored nation (MFN) deal to sell drugs at comparable prices to other affluent nations or committing to bring production back to the United States.
While companies that entered into MFN agreements will not have to pay tariff costs until early 2029, many smaller biotech firms are forced to bear the brunt of the levies.
Written by urgent.news from STAT News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
