Aussie pharma giant sees no pain from big Trump tariffs
Australia’s largest pharmaceutical company, Donald Trump’s release of large tariffs on drugs sent to the United States eliminated investor concerns.
It remains unclear whether CSL’s 100 percent of the US President announced in a social media mission.
CSL, the seventh largest public company of Australia’s market value, constitutes a large part of Australia’s $ 2.2 billion pharmaceutical export trade to the United States.
The main exports of the ASX Blue Chip stock to the US are drugs derived from the blood plasma produced in the facility in Melbourne.
The company also has a significant footprint in the US employing about two -thirds of 19,000 personnel or overseas labor force.
Health Minister Mark Butler said the government is still working to understand the effects of the announcement for Australian exporters.
Adelaide told journalists, “the US in this field, in this field, the pharmaceuticals between our countries will take some action on the benefits of free trade, we put forward the case,” he said.
Due to the prohibitions on supplying blood plasma in Australia, CSL collects plasma in the USA, sends it to the Melbourne factory and sends it back.
Most of the vaccines that CSL sell in the USA are produced in the vaccine production facility in North Carolina and the company announced more expansion in America.
The company said Mr. Trump will not be affected by companies building production facilities in the United States.
“CSL will actively watch more announcements than the management about the details of tariffs,” a CSL spokesman said in a statement. He said.
“According to the previous market guidance, we do not expect any important effects of these tariffs.”
Mr. Trump said he would be given 100 percent tariff unless he built a manufacturing facility in the US until October 1.
Citi Healthcare Analyst Laura Sutcliffe said CSL has questions about whether the supply chain is isolated from the coup, but it has the flexibility to move the steps in the production structure to adapt to tariffs.
CSL’s share price decreased by 3.6 percent shortly after the stock market was opened, withdrew some of its losses to sit down late in the morning to sit 1.7 percent lower.
Trade Minister Don Farrell spoke between the US Trade Representative Jamieson Greer between the ASEAN Summit during the week, but there was no indication about an upcoming tariff announcement from Americans.
The opposition explained in depth that exporters were ready to help “harmful” tariffs and the government is ready to help Australia to protect the pharmaceutical sector.
US pharmaceutical companies lobbying the White House previously put Australia’s pharmaceutical benefits plan into plus signs and argued that the government program unjustly suppressed prices.
The Albanian government clearly rejected any negotiations with PBS.
“None of these recent announcements from the US administration make a difference in our determination to protect the PBS,” Butler said.
The pharmaceutical industry body drugs opposed Australia tariffs, but Mr. Trump’s “the most preferred nation ,, he was more concerned with the proposal of the“ the most preferred nation ,, which would force companies to reduce US drug prices with the lowest international criterion and would potentially threaten PBS.
“This affects the access of Australian patients to new innovative treatment options – decisions are made to slow down new products in Australia, which will worse the listing delays in the PBS,” he said.
Mr. Trump also announced a 50 percent tariff in kitchen cabinets and bâtıller and a 25 percent tariff in all “heavy (big!) Trucks imported to the USA.
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