Drug Prices May Rise Due to Export Tariffs from EU to US

The President of the European Commission, Ursula von der Leyen, and US President Donald Trump reached a trade deal on July 27, whereby almost all exports from the EU to the US will now incur a 15% tariff. This was reported by the New York Times.

According to the publication, a 15% tariff will apply to many pharmaceutical products produced in Europe, which could potentially lead to an increase in drug prices.

Among the drugs produced in Europe is Keytruda, a treatment for cancer, as well as widely-used weight loss medications like Ozempik. Furthermore, the new import costs could add billions of dollars to the expenses of the pharmaceutical industry.