European Pharma Faces U.S. Tariff Challenge: Industry Leaders Call for Action

European pharma companies warned the EU president that U.S. tariffs could drive the industry away from Europe. Pharma trade group EFPIA urged the EU to take swift action to prevent an exodus. Despite exemptions, pharmaceuticals face separate tariffs, threatening Europe's pharmaceutical investments and innovation.

In a crucial meeting on Tuesday, European pharmaceutical leaders cautioned EU President Ursula von der Leyen about the potential acceleration of an industry shift to the U.S. due to President Donald Trump's tariffs, insiders revealed.

The EFPIA and biotech lobby Europabio, alongside CEOs of major EU-based pharma companies, urged the EU to modify industry regulations to foster innovation and strengthen Europe's intellectual property protections.

Despite previous industry warnings, the looming U.S. tariffs heighten the urgency for legislative reform, as pharmaceuticals, exempt from initial duties, may soon face additional fees threatening European export revenues and competitiveness.

(With inputs from agencies.)