America’s intellectual property (IP) system makes medicines more affordable through innovative research, brand competition and lower-cost generics.
See how.
Many of the world’s largest pharma companies are aiming to stay ahead of an escalating global trade war, and an executive order yesterday from President Donald Trump pushes to make it easier for them to do so. The order authorizes the FDA to approve U.S. manufacturing plants more quickly by eliminating certain requirements and reviews as well as hastening construction approvals from the Environmental Protection Agency.
The streamlined process could help Big Pharma reach some of its ambitious and pricey domestic manufacturing goals over the next few years. And drugmakers have already begun to put their money where their mouth is. For example, J&J plans to spend $55 billion over four years to reshore its manufacturing while Novartis has slated $23 billion and AbbVie set aside $10 billion.
Today, we’re looking at Big Pharma CEOs’ efforts to control the tariff narrative, including these investments in U.S. manufacturing, as well as supply chain and inventory management. Most of all, the pharma bigwigs hope to quell fears and calm shareholders with assurances that tariffs won’t be so bad for drugmakers, after all.
Thanks for reading.
Michael Gibney Senior Editor & Writer, PharmaVoice Email
Chief executives at the largest drugmakers in the world are confident tariffs and pricing measures won’t be a major problem. But they’re still poised for change.
Regulators have signaled their willingness to embrace alternative tests and guide the industry in new directions.
Credit: Getty Images
The rundown from yesterday
Yesterday, we explored the intensifying competition between weight loss juggernauts Eli Lilly and Novo Nordisk now that compounders have been doused, and we looked at where pharma R&D is headed in an unsteady economic climate.
Recent federal policy shifts are reshaping how life sciences organizations approach diversity initiatives in clinical research. Explore how pharma giants are refining diversity goals in R&D in this Trendline.
