Novartis has stockpiles to withstand potential Trump tariffs, CEO says

Zurich, September 20 – Novartis increased the stocks of drugs in the United States and is well prepared if the president was shot by President Donald Trump’s tariffs in an interview published on Saturday.

Drugs are currently exempt from Washington’s 39% tariffs imposed on Switzerland last month, but the industry is waiting for an investigation that can lead to sectoral import tasks.

The United States also reached a bilateral trade agreement with the European Union in July, which includes 15% tariff on drugs, except for some generic drugs.

CEO Vas Narasimhan, Swiss newspaper Neue Zuercher Zeitung’a told, “We have increased our stocks significantly in the US, so they will definitely last until mid -2016,” he said.

Novartis added that it has announced medium -term investments of $ 23 billion in the US and aims to produce the most important products for the American market locally.

“Going there will probably take three to four years. However, in the next two years, for example, I guess we can make significant changes to realize a portion of the last filling and packaging in the United States.” He said.

“This should allow us to fully reduce tariffs.”

Narasimhan, Washington’s 232th part of the pharmaceutical industry after the investigation of up to 250%of the potential tariffs are realistic to “guess it is difficult to predict,” he said.

“We are working on all possible scenarios and hope that the government realizes that expansion will take time in the United States.” He said.

“However, 232. We will not have more clarity until the investigation is completed,” he said. “We don’t know when the results will be present.”

This article was created from an automatic news agency feeding without changing the text.