The imposition of tariffs on imported generic drugs by the US government is anticipated to result in increased prices and potentially exacerbate existing drug shortages, according to experts. A significant portion of generic medications in the US, including essential drugs like cancer treatments, antibiotics, and blood thinners, are manufactured overseas. Furthermore, a substantial majority of active pharmaceutical ingredients (APIs) utilized in drugs originate from abroad. While immediate shortages are a concern, economists predict that price hikes will become apparent in the coming months as contracts with distributors are renegotiated at higher rates.
is likely to drive up the cost of generic drugs in the United States and exacerbate drug shortages , experts say.
Vimala Raghavendran, vice president of informatics product development at the U.S. Pharmacopeia, said that typically, companies hold several months of inventory of API. “So if any manufacturer wants to go ahead and increase their prices, they’re going to pay a different tax on the other end if they do so,” she said.
DRUG PRICES DRUG SHORTAGES TARIFFS GENERIC DRUGS API
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