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Proposed Tariffs Could Hike US Drug Prices

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News video: Proposed Tariffs Could Hike US Drug Prices

Proposed U.S. tariffs on certain Chinese ingredients could mean higher prices on some drugs.

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Proposed Tariffs Could Hike US Drug Prices

The Trump administration's  proposed tariffs  on Chinese imports could also drive up costs in the U.S. prescription drug industry.  China is a  "major provider"  of U.S.-consumed drug ingredients, according to the U.S. Food and Drug Administration.

If implemented, the 25 percent tariffs could apply to  certain ingredients  used to manufacture  common drugs , like insulin, antidepressants and epinephrine.  Some pharmaceutical groups have expressed concern about the move's potential impact on the prescription drug market.

In a statement, the  Association for Accessible Medicines  said the tariffs could raise manufacturing costs and "thus higher prescription drug prices for patients in the U.S." Earlier this year, the White House released  policy proposals  aimed at making medicine more affordable for Americans, a goal the  FDA  is also taking steps to achieve.

Additional reporting from Newsy affiliate  CNN.

 




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