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Pfizer could use existing US manufacturing to counter potential tariff hit
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Pfizer could use existing US manufacturing to counter potential tariff hit
Mar 3, 2025 10:21 AM

March 3 (Reuters) - Pfizer ( PFE ) CEO Albert Bourla

said on Monday the drugmaker might move overseas manufacturing

to its existing plants in the United States, if required, as the

Trump administration threatens numerous tariffs on imported

goods.

Bourla's comments come as drugmakers brace for the

possibility of 25% tariff on pharmaceutical imports.

A company with an existing manufacturing network in the U.S.

will fare better if there is a need to transfer production to

the country to avoid tariffs, Bourla said at the TD Cowen

healthcare conference.

"We have the capabilities here (in the U.S.) and the

manufacturing sites are operating in good capacity right now. If

something happens, we will try to mitigate it by transferring

from manufacturing sites outside to the manufacturing sites

here."

Pfizer ( PFE ) has 10 manufacturing sites and two distribution

centers in the United States.

U.S. President Donald Trump, who campaigned on a promise to

boost domestic manufacturing, has been piling pressure on

drugmakers since taking office to move medicine production to

the country.

In February, Trump met with CEOs from major drugmakers,

including Eli Lilly's ( LLY ) David Ricks, to discuss industry

concerns such as tariffs on drug imports. Lilly said last week

it plans to invest $27 billion in new U.S. plants.

Trump told Republicans in a White House meeting earlier in

February that he was considering four exemptions to reciprocal

tariffs, including pharmaceutical industries, according to a

Reuters report, but he is yet to rule them out.

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