Von der Leyen urged to take ‘rapid and radical action’ as president says tariffs on pharmaceuticals coming ‘shortly’

Summary

EU pharmaceutical companies warned of a potential investment exodus to the US after Donald Trump threatened major tariffs on drug imports.

Shares of leading firms like AstraZeneca and Sanofi dropped sharply, following newly imposed 20% “reciprocal” tariffs.

Industry group EFPIA—whose members include Bayer, Novartis, Novo Nordisk (maker of Ozempic), Pfizer, Lilly, Gilead, GSK, Teva, and Merck—met EU President Ursula von der Leyen hours before Trump’s remarks.

EFPIA said €16.5B in investment is at risk. Firms fear job losses and R&D shifts without urgent EU reforms.