Europe Faces Pharmaceutical Exodus Amid U.S. Tariffs

European pharmaceutical companies warned that U.S. tariffs are prompting an industry shift towards the United States. The EFPIA urged the European Commission to take swift action to prevent this 'risk of exodus', stressing the need for urgent measures to counteract U.S. influences.

In a significant meeting on Tuesday, European pharmaceutical companies cautioned European Commission President Ursula von der Leyen about the potentially damaging effects of U.S. President Donald Trump's tariffs. The industry warned such measures could hasten the relocation of pharmaceutical operations from Europe to the United States.

The European Federation of Pharmaceutical Industries and Associations (EFPIA), representing key industry players, has urged for 'rapid and radical action' to mitigate the looming 'risk of exodus'. This plea comes amid fears that the U.S. tariffs could create an economic shift favoring American competitiveness.

Despite the stakes, EFPIA has refrained from publicly commenting on the private meeting, which remains largely under wraps due to its sensitive nature. However, industry insiders stress the urgency of the situation, pushing for immediate European interventions to stem the potential outflow.

(With inputs from agencies.)