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US-EU Trade Deal Imposes 15% Tariff on European Drugs

The measure is poised to raise U.S. patient expenses by billions.

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Overview

  • The agreement applies a 15% levy to most finished drugs and active ingredients imported from European Union member states.
  • European Commission President Ursula von der Leyen confirmed exemptions for some generics, though U.S. fact sheets omit such carve-outs.
  • ING analysts estimate the tariff will add about $13 billion annually to import costs once existing stockpiles are depleted.
  • Blockbuster brand-name medications made in Europe, including Ozempic, Wegovy and Keytruda, are expected to see list-price hikes passed on to payers and patients.
  • Pharmaceutical companies are exploring U.S. manufacturing expansions and potential cuts to research and development budgets to offset added tariff burdens.