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How US Tax Plan Could Affect Global Pharma Manufacturing Networks

 
• By Bowman Cox

Allergan, Pfizer, Bristol-Myers Squibb, AbbVie, GSK, Sanofi and Roche showed glimpses in recent earnings calls of potential impacts on their global manufacturing networks from a US plan to legislate border-adjusted tax cuts. But there was not a word about President Trump’s threat of tariffs.

The growing prospects for border-adjusted US tax cuts under discussion in the House of Representatives drew muted responses from pharmaceutical executives in recent earnings calls. Much will depend, after all, on the specifics of a tax plan that could materialize – and on the situation with each company’s global manufacturing network.

Meanwhile, there was no discussion at all of the talk of high tariffs that President Trump has brandished at China,...

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