The Los Angeles Post
U.S. World Business Lifestyle
Today: April 24, 2025
Today: April 24, 2025

European pharma companies issue demands to stay in EU ahead of expected US tariffs

Used blister packets that contained medicines, tablets and pills are seen, in this picture illustration
April 15, 2025
Reuters - Reuters

PARIS (Reuters) -Nearly three dozen global pharmaceutical companies, in a letter to the head of the European Commission, demanded help to maintain operations in the EU despite threatened U.S. tariffs on imports, including measures to compensate them for the cost of pharmaceutical innovations, French business newspaper Les Echos reported on Tuesday.

In the letter sent to European Commission President Ursula von der Leyen, the companies -- including Pfizer, Eli Lilly and AstraZeneca -- said they face cost disadvantages in Europe versus the United States, where drugs are sold at prices that on average are twice that of some European countries, such as France, Les Echos reported.

U.S. President Donald Trump has said he expects to impose tariffs on imported pharmaceuticals in the near future.

European pharma companies issue demands to stay in EU ahead of expected US tariffs
FILE PHOTO: View of European Central Bank headquarters in Frankfurt, Germany

The companies also asked the EU to simplify regulations, noting that companies currently must conduct multi-country clinical trials for drugs, the letter said.

The industry also said in the letter that it takes issue with a fee the sector will soon need to pay to treat wastewater from micropollutants, Les Echos said.

For a decade "the innovative industry has entirely reimbursed the increase in expenses linked to innovative medicines," the letter said, according to Les Echos.

"We hope to work together in the coming weeks to ensure that these proposals become reality to the benefit of Europe's patients and economic development," the letter added.

European pharma companies issue demands to stay in EU ahead of expected US tariffs
FILE PHOTO: An AstraZeneca site in Macclesfield, Britain

Last week, European pharmaceutical companies warned von der Leyen in a meeting that U.S. tariffs would hasten the industry's shift toward the United States and from Europe.

The United States is the biggest market by sales for big pharma companies, and Europe and the United States have interconnected supply chains for medicines. EU medical and pharmaceutical product exports to the United States totalled about 90 billion euros ($101.49 billion) in 2023, according to Eurostat.

European pharmaceutical giants have recently been expanding production facilities in the United States.

($1 = 0.8868 euros)

European pharma companies issue demands to stay in EU ahead of expected US tariffs
Eli Lilly logo is shown on one of their offices in San Diego

(Reporting by Makini Brice; Editing by Leslie Adler)

Related Articles

Trading Day: Wall Street extends rebound as trade war fears subside Trump to exempt carmakers from some US tariffs, FT says Trump to exempt carmakers from some US tariffs, FT says Trump pushes training for skilled trades that do not require college
Share This

Popular

Business|Economy|Finance|US

Treasury secretary: China needs to change

Treasury secretary: China needs to change
Business|Economy|Technology

Hear what Musk told Tesla investors about his DOGE role going forward

Hear what Musk told Tesla investors about his DOGE role going forward
Business|Economy|Finance|Political|US

Trump goes after Federal Reserveโ€™s Powell again

Trump goes after Federal Reserveโ€™s Powell again
Business|Economy|Environment

Judge rules federal government owes nearly $28 million to North Dakota for pipeline protests

Judge rules federal government owes nearly $28 million to North Dakota for pipeline protests

Political

Education|Political|US

Republican Nancy Mace fields concerns over university funding during South Carolina town hall

Republican Nancy Mace fields concerns over university funding during South Carolina town hall
Education|Political

Head of NAACP disinvited from speaking to Texas state bar over suit against Trump administration

Head of NAACP disinvited from speaking to Texas state bar over suit against Trump administration
Economy|Environment|Political|US|World

FEMA losing roughly 20% of permanent staff, including longtime leaders, ahead of hurricane season

FEMA losing roughly 20% of permanent staff, including longtime leaders, ahead of hurricane season
Crime|Political|World

Justice Department brings first terrorism case against alleged high-ranking TdA gang member

Justice Department brings first terrorism case against alleged high-ranking TdA gang member