Indian pharma on alert as US mulls higher drug tariffs
Experts said the tariffs are held back on pharma imports due to the ongoing investigation by the US government related to imports of pharmaceutical products and national security under Section 232 of the Trade Expansion Act, 1962.
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Sources in the pharma industry said the same situation may prevail but they said there is an air of uncertainty given the frequent changes in the structure, prompting drug makers to look at mitigation strategies.
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Over its first quarter earnings call with investors on Wednesday,
Lupin CEO Vinita Gupta
said, "It is hard to predict where this (tariff) lands". But she added the company has considered price flexibility to offset the impact of tariffs. She also noted the possibility of a tech transfer into the US to cut the tariff impact.
Alluding to President Trump's most recent hints at a 10-15% tariff on pharma imports, she said, "I think it will be fairly manageable. In any case the question is whether it is 25% or 150% or 200% kind of numbers that are being floated".
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Company executives however noted that the US government will be very conscious about the measures they take because it is about access to medicine and could impact them significantly.
Indian Pharmaceutical Alliance secretary general Sudarshan Jain said, "The recent executive order by the US administration excludes the pharmaceutical sector from immediate tariff imposition. The sector is being reviewed under Section 232 investigation". "Generic medicines are important for affordable healthcare in the US and typically operate on razor-thin margins. Ensuring their consistent availability is critical for patient care. India-US partnership is key to securing API supply chains and enhancing healthcare resilience," he said.
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