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.