Overview

• President Donald Trump announced a 100% tariff on pharmaceutical imports not made in the United States, effective October 1, with an exemption for firms “building” US plants defined as projects that have broken ground or are under construction.
• CSL shed about A$2.4 billion in market value in early trade as its shares slid to 189.82 before trimming losses, while Pro Medicus, Cochlear, and Telix Pharmaceuticals also fell.
• CSL said it will monitor further announcements from the administration and reiterated guidance that it does not expect any material impact from the proposed tariffs.
• The company highlighted its extensive US footprint, including plasma collection in the United States, vaccine manufacturing in North Carolina, and roughly 19,000 US-based employees.
• Trade Minister Don Farrell reported no prior warning from US counterparts, the opposition labeled the move deeply concerning, and about US$2.2 billion in Australian pharmaceutical exports to the US could be exposed.