Key Takeaways
- The US imposed a 26% general reciprocal tariff on imports from India, but pharma is exempt for now.
- Industry is relieved, with officials saying India ensures a steady supply of affordable medicines.
- However, the possibility of tariffs on pharmaceuticals at a later date remains. If imposed, prescription drug spending in the US is likely to rise.
- India’s pharma exports to the US amounted to $8.95bn from 1 April 2024 to 28 February 2025.
- In 2023, generics and biosimilars accounted for over 90% of prescriptions filled in the US but only 13% of prescription drug spending and less than 2% of total US spending on healthcare.
US President Donald Trump has announced a general 26% reciprocal tariff on India, but a country-agnostic exemption of categories like pharmaceuticals implies
The executive order outlined by Trump on 2 April made a few products
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