Sandoz CEO Richard Saynor warned that American patients would ultimately bear the cost of President Donald Trump’s threatened tariffs on generic drugs. Trump said in July that imported generic medicines could face tariffs of 100% from 2028, rising to as much as 200% a year later, in a bid to encourage drugmakers to shift pharmaceutical manufacturing to the United States. Generic medicines account for about 90% of prescriptions in the U.S., but a relatively small share of overall drug spending due to their lower prices. Sandoz generates roughly a quarter of its revenue in North America, including Canada.
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