The Portuguese Association of the Pharmaceutical Industry (Apifarma) has warned that tariffs on drugs are “an ineffective instrument” that will disrupt supply chains and affect investment in research and patients’ access to medicines.
The trade agreement between the European Union (EU) and the United States, reached on Sunday, sets US customs tariffs on European products at 15%.
Asked by the Lusa agency about the impacts of tariffs on medicines, Apifarma said that the European Federation of Pharmaceutical Industries and Associations (EFPIA) issued a statement in which it says that it “continues to analyze the announcements on the trade agreement between the EU and the US, as the main implications for the pharmaceutical sector remain uncertain.”
“If the intention is to guarantee pharmaceutical investment in research, development and manufacturing, rebalance trade, and ensure a fairer distribution of pharmaceutical innovation funding worldwide, there are more effective means than tariffs that would help, rather than hinder, overall progress in patient care and economic growth,” Apifarma argues in a written response to Lusa.
From a European perspective, he stresses, this means rethinking the way innovation is valued, “significantly increasing what the region spends on innovative medicines and creating an operating environment that can accelerate the transformation of excellent European science into new treatments”.
Apifarma also says it is aligned with EFPIA’s position and will continue to monitor the evolution of the situation.
The trade agreement between the EU and the United States provides that the 15% tariffs on EU products will apply “to most sectors, such as cars, semiconductors and pharmaceuticals,” said on Sunday the head of the EU executive, Ursula Von der Leyen.
Donald Trump had previously said that pharmaceuticals were excluded from the negotiation, but a fact check released on Monday by the White House confirmed: “The European Union will pay the United States a 15% tariff, including on automobiles and automotive components, pharmaceuticals and semiconductors.”
On Tuesday, the EU explained that the agreement, which is still preliminary and has details pending, should exempt strategic sectors such as semiconductors, aerospace components, and some pharmaceuticals.
The US and EU countries trade around €4.4 billion in goods and services every day.
Samantha Gannon
info at madeira-weekly.com
