U.S. to see higher generic drug prices thanks to tariffs, CEO of leading India pharma firm warns
President Donald Trump's proposed tariffs on generic drugs will increase the price of these medicines for patients in the country, Erez Israeli, the chief executive of Indian drugmaker Dr. The move is aimed at onshoring the generic medicine industry to the U.S., where it makes up for more than 90% of prescriptions. Indian companies account for nearly half of generic drug supplies to the U.S., according to data shared by lobby group Indian Pharmaceutical Alliance.
- ▪President Donald Trump's proposed tariffs on generic drugs will increase the price of these medicines for patients in the country, Erez Israeli, the chief executive of Indian drugmaker Dr.
- ▪The move is aimed at onshoring the generic medicine industry to the U.S., where it makes up for more than 90% of prescriptions.
- ▪Indian companies account for nearly half of generic drug supplies to the U.S., according to data shared by lobby group Indian Pharmaceutical Alliance.
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U.S. President Donald Trump's proposed tariffs on generic drugs will increase the price of these medicines for patients in the country, Erez Israeli, the chief executive of Indian drugmaker Dr. Reddy's Laboratories, told CNBC's 'Inside India' on Thursday.Generic drugs are a low-margin business and "this kind of level of tariff cannot be absorbed" by the company, Israeli said, adding it will lead to prices increasing "in the magnitude of the tariff."Israeli also said that two years may not be enough time for companies to move operations to the U.S., as the process could take four to seven years.On Tuesday, Trump announced that generic drugs imported into the U.S.
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