US PRESIDENT Donald Trump announced on social media last Fri that a 100 percent tariff will be imposed on US imports of branded or patented pharmaceutical products from 01 Oct (PD breaking news).
President Trump offered foreign pharmaceutical companies an out if they build a manufacturing plant in the US.
Australian pharmaceutical exports to the US were worth around $2.1 billion last year, with plasma and other blood products from CSL being a significant share of that.
CSL share prices dropped sharply after the announcement, before rallying soon after to regain much of the lost ground.
CSL said in a statement it was aware of the tariffs and was "actively monitoring further announcements".
The company also noted that it has a significant manufacturing footprint in the US, and is planning further expansion.
"As per previous market guidance, we do not expect any material impact from these tariffs," the company stated.
Australian cancer diagnostic manufacturer Telix Pharmaceuticals, which also supplies the US market, experienced a share price drop, but said it did not expect any impact from the tariffs as most of its workforce was already based in the US.
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