Pharmaceutical Exodus: Europe's Call for Regulatory Overhaul

European pharmaceutical companies are urging the EU to respond to potential U.S. tariffs that may drive industry relocation to the U.S. They stress the need for regulatory changes to foster innovation and address concerns over global supply chains and intellectual property protection.

European pharmaceutical companies warned the European Commission president that U.S. tariffs could expedite a shift of the industry from Europe to the United States.

The European Federation of Pharmaceutical Industries and Associations (EFPIA) urged EU President Ursula von der Leyen to act swiftly against the risk of industry exodus.

Pharmaceuticals were previously exempt from U.S. tariffs, but with new tariffs looming, companies are calling for enhanced regulatory frameworks and strong intellectual property protection to keep the sector competitive within Europe.

(With inputs from agencies.)