A 100 percent tariff will be imposed on US imports of branded or patented pharmaceutical products from 01 October.
US President Donald Trump announced the new tariff on Truth Social, offering foreign pharmaceutical companies an out if they build a manufacturing plant in the US.
Australian pharmaceutical exports to the US are worth around $1.6 billion a 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 plans further expansion.
“As per previous market guidance, we do not expect any material impact from these tariffs,” the company stated.
More details in Monday’s issue of Pharmacy Daily.
