US Shifts Pharma Policy: Novartis, Roche Invest $73B After Tariff U-turn
The US government has announced a shift in its pharmaceutical policy. Instead of imposing tariffs on imports, it will now target companies that refuse to relocate production or lower prices. This move has prompted Novartis and Roche to invest heavily in the US.
In response to the new policy, Novartis has pledged to invest $23 billion over the next five years. This investment will expand its production capacity and research labs in the US. Similarly, Roche has committed to a $50 billion investment over the same period. A high-ranking government official confirmed this change in plans to the German Press Agency.
Initially, US President Donald Trump had announced tariffs on pharmaceutical imports, set to take effect on October 1st. However, these tariffs will no longer be imposed as planned.
The US government's policy change has led to significant investments from Novartis and Roche. These investments are expected to boost the US pharmaceutical industry and create jobs. Meanwhile, the previously announced tariffs on pharmaceutical imports have been shelved.
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