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Proposed 25% Pharmaceutical Tariffs Could Increase US Drug Costs by $51 Billion Annually

- A new Ernst & Young report commissioned by PhRMA reveals that a 25% tariff on pharmaceutical imports could increase US drug costs by nearly $51 billion annually, potentially raising prices by up to 12.9%. - The Trump administration has launched a Section 232 investigation into pharmaceutical imports citing national security concerns, triggering a 21-day public comment period with potential tariff implementation following the probe. - Industry experts warn that tariffs would disproportionately impact generic manufacturers operating on thin margins, potentially leading to drug shortages and undermining efforts to boost domestic pharmaceutical production.