Trump tariff pressure: AstraZeneca to move production to US, announces $50 billion manufacturing push
Tired of too many ads? go ad free now
The company said it expects 50% of its total revenue to come from the US by 2030, underlining its strategic shift toward the American market, AFP reported. 'Today's announcement underpins our belief in America's innovation in biopharmaceuticals,' AstraZeneca CEO Pascal Soriot said in a statement.
The announcement comes as US President Donald Trump ramps up threats of new tariffs on pharmaceutical imports, which had long been exempt from his broader import levies.
A White House-ordered investigation is currently underway, with duties potentially reaching as high as 200%, according to administration signals.
'For decades Americans have been reliant on foreign supply of key pharmaceutical products,' US Commerce Secretary Howard Lutnick said, AFP quoted.
He added that the new tariff measures are aimed at 'ending this structural weakness' in domestic drug supply chains.
The Virginia factory forms the centrepiece of AstraZeneca's expanded US operations and reflects broader trends in the industry. Other major pharmaceutical firms, many of which had avoided tariffs for the past 30 years, have also begun shifting investment and production to the US in recent months.
AstraZeneca had already announced in April that it was relocating part of its European production to the US, even before the latest tariff measures gained momentum.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mint
13 minutes ago
- Mint
US layoffs: This pharma firm to cut jobs amid $3 billion cost-reduction plan. Here's what we know
US pharmaceutical company Merck announced on Tuesday that it would cut jobs as part of a cost-reduction plan aimed at saving $3 billion annually by 2027. 'The Company approved a new restructuring program, in which it expects to eliminate certain administrative, sales and R&D positions,' reported AFP, citing a company statement. Merck also lowered its revenue forecast for 2025 slightly. The company did not specify how many posts would be affected, but mentioned that it would continue to hire employees 'into new roles across strategic growth areas of the business.' The plan involves Merck decreasing its "global real estate footprint" and further optimising its manufacturing network. The announcement followed Washington's declaration on Sunday of a trade agreement with the European Union, which established a 15 per cent tariff on most EU imports into the US, including pharmaceuticals. US President Donald Trump previously threatened a 200 per cent tariff on pharmaceuticals, and an investigation into these levies is currently underway. Merck's revenue for the second quarter was $15.8 billion, a 2% decline year-on-year. However, it surpassed Factset's consensus expectations. The company experienced a drop in sales of its HPV vaccine Gardasil. The vaccine generated $1.1 billion in the second quarter, a 55% decrease year-on-year, due to waning demand in China and increased competition from generic drugs in international markets. In contrast, sales of the cancer drug Keytruda, a major player in oncology, rose 9% to nearly $8 billion between April and the end of June. Merck is cutting $3 billion from its annual budget in anticipation of off-brand competition to its top-selling cancer drug, Keytruda. The company announced that it intends to reinvest these savings into the development and launch of new medicines, reported Bloomberg. The company has lost over 30% of its value in the past 12 months amid growing investor concern about its future after Keytruda.
NDTV
29 minutes ago
- NDTV
"Whenever I Speak Of Nehru...": PM Modi, Amit Shah's Twin Jabs At Congress
New Delhi: The Congress - and its former Prime Minister, Jawaharlal Nehru - was tag-teamed by Prime Minister Narendra Modi and Home Minister Amit Shah Tuesday evening at the end of a vociferous two-day Lok Sabha debate on the Pahalgam terror attack and Operation Sindoor. After Mr Shah ripped into the Congress (and Mr Nehru) - blaming them for Pakistan's illegal occupation of Kashmir and the ceding of territory in Aksai Chin to China - the Prime Minister fired jabs of his own, accusing them of also giving away territory in Punjab and Tamil Nadu. The reference was to Kartarpur and Kachchatheevu Island, which were given over to Pakistan (in 1947, as part of the British boundary-drawing) and Sri Lanka (by Indira Gandhi in 1974). "The people who have been asking us why we don't take back Pakistan-occupied Kashmir... I want to ask, 'whose government let the enemy capture PoK'? The answer is clear..." the Prime Minister said. "They also said Aksai Chin was barren and gave it away." Aksai Chin in eastern Ladakh was illegally occupied by China during the 1962 war. The ruling Bharatiya Janata Party has repeatedly accused the Congress government of the time of having surrendered over 30,000 sq km of Indian territory to China. The accusation usually comes around when the Congress attacks the Modi administration of having surrendered around 4,000 sq km in Ladakh after the violent clashes of May-June 2020. "Congress has always compromised national security. But whenever I speak of Nehru, the Congress and its ecosystem get jittery," the PM responded, adding, "' Lamhon ne khata ki, sadiyon ne saza paayi ' (a mistake was committed in that moment, and the punishment lasted years')." "To date, India is suffering the punishment of decisions taken since independence." Mr Modi also took aim at the Congress for a 'lack of support' after Pahalgam and during Operation Sindoor. He accused, as Amit Shah did, the party of having given Pak a 'clean chit'. The world supported India after Pahalgam and Op Sindoor but the Congress did not, he said. Rahul Gandhi's Deterrance Jibe The Nehru jabs followed sharp questions by Rahul Gandhi about the Op Sindoor timeline and the government's handling of the armed forces. In a combative speech the Congress leader wanted to know what stopped the BJP from extending military action to recapture PoK. Amit Shah's Nehru Jabs Hours earlier Mr Shah set the tone for the Prime Minister's speech, accusing Jawaharlal Nehru of having dismissively surrendered Aksai Chin because "not even a blade of grass grows there". "They (the Congress) asked us why we agreed to a ceasefire (in Op Sindoor) when we were in such a good position? I want to ask them... in 1948 our soldiers had the upper hand but Nehru stopped the war and the PoK problem was created. Pakistan is Congress' mistake... The blame lies with Nehru."
NDTV
29 minutes ago
- NDTV
Counter View: A Clarification On Iran's Strategic Path And Historical Resolve
The recently published article "Snapback to Reality: On Iran's 45-Year Slog to Nowhere" presents a perspective that, while rhetorically polished, fundamentally misrepresents Iran's history, identity, and strategic choices. The Islamic Republic of Iran welcomes open discussion and diverse opinions. But narratives built on selective memory, historical erasure, and one-sided judgment do not advance peace or understanding-they reinforce entrenched injustice. The author alleges that Iran's so-called misguided policies and what he describes as "Entrenched Animosity" toward the United States and Israel are the root causes of its challenges. He claims that these policies have brought Iran into a state of crisis and isolation. According to the author, Iran must abandon its confrontational policies and transform into a "normal" actor on the international stage; otherwise, he warns, a bleak future awaits the country. He further asserts that the United States and its Western allies are prepared to invest in Iran and facilitate its transformation into a prosperous and developed nation-provided that Iran relinquishes its nuclear capabilities. Accordingly, this Embassy considers it its legitimate right and responsibility, in the interest of enlightening public opinion, to provide the following clarifications: 1. Iran's Revolution: A Demand for Dignity, Not Just Defiance The 1979 Islamic Revolution was not born out of blind hatred or ideological stubbornness. It was the collective awakening of a nation long subjected to foreign domination, coups, imposed monarchies, and the plundering of national wealth. The slogans heard then-and now-reflect a deep historical memory. They are not simply about America or Israel Per Se, but about resisting colonial arrogance, military aggression, and decades of betrayal. Unlike what the article suggests, Iran does not define itself by enmity. It defines itself by independence, sovereignty, and the pursuit of justice in a region scarred by wars, occupations, and externally backed dictatorships. The question is not why Iran resists, but why others feel entitled to demand its submission. 2. On the JCPOA and Western Commitments Iran negotiated and upheld the JCPOA-a deal verified by the International Atomic Energy Agency as fully implemented. It was the United States, under the Trump administration, that unilaterally withdrew and re-imposed sanctions without cause. Suggesting that Iran retaliated by enriching uranium ignores the timeline and the facts. Iran acted within the framework of the deal, and under the mechanisms allowed by it. Today, Iran remains open to balanced, verifiable, and respectful negotiations-but not to intimidation disguised as diplomacy. The "snapback" mechanism, now being brandished as a threat, is an instrument that was only designed to be used in case of non-compliance. Iran's patience and repeated gestures of goodwill, despite being attacked by Israel and economically strangled by illegal sanctions, are evidence of commitment to peaceful resolution. 3. The Real Choice: Not Capitulation, But Balance The article frames Iran's future as a binary between "stubbornness or survival." But realpolitik has never been that simple. Iran is not demanding war. It is demanding fairness. If the West truly wants reconciliation, it must begin by acknowledging its role in the decades of distrust, ending collective punishment through sanctions, and ceasing to judge Iran through the lens of outdated Cold War ideology. 4. Iran's Regional Role: A Stabilising Force, Not a Spoiler While Iran is criticised for supporting allies in the region, few ask why such alliances exist. Iran's support for movements in Lebanon, Palestine, Iraq, or Yemen is not imperial ambition-it is resistance against occupation, extremism, and Western-backed militarism. At every turn, Iran has called for dialogue, regional security cooperation, and a nuclear-free Middle East - a call still ignored by those shielding Israel's undeclared arsenal. If Israel strikes Iranian scientists and sovereign facilities with impunity, and then plays the victim when met with pushback, who truly undermines regional peace? In Closing: A Call for Mutual Respect Iran always welcomed negotiation, provided to be fair and equal and its rights to be respected and no nation should be expected to trade sovereignty for survival. Iran holds the wire-not because it seeks to detonate anything-but because it refuses to be silenced. The choice before the US is to treat Iran as what it is: a sovereign, ancient, capable nation seeking its rightful place in the international system-with respect, not with coercion. Iran doesn't need to be something else. It will remain what it has always been: Iran-independent, proud, and unafraid to choose its own path.
