Trump Tariffs Could Delay Regulatory Filings for Half of Biotech Companies

A survey by the Biotechnology Innovation Organization (BIO) found that proposed tariffs on European Union imports could significantly impact the U.S. biotech industry1.

94% of surveyed biotech companies expect tariffs on EU imports to increase manufacturing costs12.

50% of respondents indicated they might need to rework or delay regulatory filings due to the proposed tariffs1.

Nearly 90% of U.S. biotech companies rely on imported materials for at least half of their FDA-approved products1.

The survey included biotech companies of various sizes, from startups to those with over $1 billion in annual revenue1.

Industry executives warn that tariffs could disrupt supply chains, increase healthcare costs, and create affordability challenges for patients5.

44% of surveyed companies expect it would take more than two years to modify their supply chains in response to tariffs1.

BIO CEO John Crowley acknowledged the importance of strengthening U.S. manufacturing but cautioned about the potential negative consequences of proposed tariffs1.

The Trump administration has proposed tariffs on imports from various countries, including China, Canada, Mexico, and the European Union13.

The pharmaceutical industry is lobbying for exemptions from tariffs, citing concerns about drug shortages and increased costs35.

Sources:

1. https://www.fiercepharma.com/manufacturing/biotechs-fear-trump-20-tariffs-will-drive-manufacturing-costs-hurt-medicine-access

2. https://www.pharmamanufacturing.com/industry-news/news/55277484/survey-94-of-us-biotechs-expect-surging-manufacturing-costs-if-eu-imports-hit-with-tariffs

3. https://www.fiercepharma.com/pharma/trump-again-threatens-tariffs-pharmaceuticals-not-too-distant-future

5. https://www.fiercehealthcare.com/finance/trump-tariffs-will-escalate-costs-hospitals-physicians-and-payers-industry-execs-warn