Sandoz CEO Warns U.S. Patients Could Bear Cost of Trump's Generic Drug Tariffs
The CEO of Sandoz, Richard Saynor, warned that proposed tariffs on imported generic drugs by the Trump administration could lead to higher prices or reduced availability for American patients. Speaking during a Capital Markets Day event with CNBC, Saynor explained that manufacturers facing steep duties might raise drug costs or stop supplying certain medicines altogether. The U.S. currently imports much of its generic and biosimilar drug ingredients from abroad, making it vulnerable to such tariffs. Sandoz is expanding its portfolio of biosimilars, aiming for over 100 by 2040 as a wave of branded drugs lose exclusivity. Despite the CEO's concerns about potential tariff impacts, Sandoz shares initially rose but later declined slightly in early trading on Tuesday.
Topics: generic_drugs pharmaceuticals trade_policy U.S._policy