Pfizer, Eli Lilly, AstraZeneca Warn EU of €100 Billion Investment Risk Amid US Tariffs and Medicine Price Demands

Nearly three dozen global pharmaceutical companies, including Pfizer, Eli Lilly, and AstraZeneca, have sent a joint letter to the European Commission expressing concerns over threatened US tariffs on medicine imports. The companies are urging the EU to take bold measures to maintain pharmaceutical operations and investment within Europe. They warn that without such action, there could be a substantial exodus of pharma investments, with up to €100 billion at risk, potentially shifting investments towards the United States. The US demands reportedly include increasing medicine prices in Europe, which is a point of contention amid ongoing trade tensions. The pharmaceutical sector highlights the interconnected supply chains between Europe and the US and emphasizes the need for support to sustain their business models, which involve selling drugs at roughly twice the price in the US compared to Europe. The warnings come amid concerns about the impact of these tariffs on European markets and investment climates, particularly in Ireland and broader Europe.