The Europe’s pharmaceutical clamps for tariffs in which hopes fade fade
Connected Ozempische, Weiche and other weight loss drugs in the international postal system of the JFK Airport.
CNBC
Copenhagen, Denmark-Europe pharmaceutical sector, has an impact on the potential effects of US tariffs as a cross-hope liberation of US President Donald Trump.
The pharmaceutical industry has so far been freed from trade taxes, but Trump confirmed last week that he would soon impose tariffs into the industry.
The drug manufacturers now use the president for a gradual approach to import in the USA, Reuters reported on Tuesday, citing four sources familiar with the discussions. The sources said that the taxes were not announced on Wednesday, but were probably inevitable.
The gradual implementation of tariffs in this sector could reduce the immediate financial goal and enable companies to shift their production states. Nevertheless, some companies have warned that the lack of clarity already has negative secondary effects.
“For us, it is not only the effects of tariffs, but also the effects that she is on the market,” said Ester Baiget, CEO of the Danish Biotech company Novonesis, to CNBC on Tuesday.
“If you bring tariffs with you, it drives uncertainty and if you [are] Unscept of pausing, they break innovations, they publish starts, they are pausing investments, ”said Baiget, whose company derives around 30% of its sales from the USA, but also increased the presence of production in the country.
Denmark is one of the largest pharmaceutical and biotech hubs in Europe, in which companies such as the manure maneuver manufacturer Novo Nordisk and the Bavarian vaccine producer Bayer Sind-Beide have a high exposure in the USA
The chairman of Novo Nordisk announced CNBC last week that the company did not speculate before Trump’s announcement of tariffs and instead concentrated to remain flexible.
“It doesn’t make much sense to speculate too much,” the chairman Helge Lund told CNBC on the sidelines of the annual general meeting of the Danish pharmaceutical giant. “We are laser -oriented on what we can influence.”
Nevertheless, questions were asked how the tariffs could affect the sales of Novos very popular obesity and diabetes treatments-and what effects on the US Eli Lilly. Lund would not be pushed in the proportion of its weight loss sales of US plants, but points to the company’s “very important” production system in the USA
‘NO. 1 question about investors “heads” “
The threat from tariffs also contributed to the uncertainty in the investment landscape. In conversation with CNBC Monday, Emily Field, head of the European Pharmaceutical Research at Barclays, cited tariffs as “No. 1 question about the minds of investors”.
Morten Bødskov, Denmark Minister of Industry, Business and Financial Affairs, said CNBC on Tuesday that he is composed of the small, export-rich economy with the country’s pharmaceutical industry and the companies in relation to the potential effects of tariffs.
“Of course we are in close dialogue with you,” said Bødskov. “It is our job to bring them into discussions about the change in the world. Many of them are the world’s leading companies. So it is our job to help them recognize the perspectives of future markets,” he added.
However, he noted that it was unclear whether the Trump government could be persuaded to reset its protectionist guidelines or to have approved certain sectors.
For companies such as Novonesis, Baiget said that it “very narrow” a question of observing events – and prepared before measures if necessary.
“There is a lot of volatility and there are many fast moving trends,” she said. “It is important that we decouple and also learn how to buff some of them.”
