INSUBCONTINENT EXCLUSIVE:
an event at the National Republican Congressional Committee, Trump said the tariff will incentivise drug companies to move their operations
commission said Novo Nordisk, Novartis, Fresenius, Sanofi, Bayer, Gedeon Richter and Ipsen Chiesi attended the call.Further, the statement
generics trade group Medicines for Europe also attended the meeting.Europe and the US have interconnected supply chains for medicines
The US depends on medicines partly produced in Europe that bring in hundreds of billions of dollars in revenue.EU medical and pharmaceutical
product exports to the US totalled about 90 billion euros (US$97.05 billion) in 2023, according to the latest Eurostat data.European pharma
giants have recently been expanding production facilities in the US
The US is the biggest pharma market by sales for big pharma companies, both US and European headquartered ones.Sales in North America
accounted for nearly 50 per cent of world pharmaceutical sales in 2021, compared with nearly 25 per cent for Europe, according to
EFPIA.Source: Reuters--Agencies
