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OPINION

JUST WHEN IT COULDN’T GET ANY WORSE: SECTION 232 TARFIFFS INCREASE PRESSURE ON EUROPE

In our previous edition we looked at the challenge Europe and Pharmaceutical companies are facing as a result of the MFN policies. The announcement at the beginning of April of an extended set of (potential) tariffs justified under issued two proclamations under Section 232 of the Trade Expansion Act of 1962 sent further shockwaves through European healthcare authorities and pharmaceutical companies. Below we provide an overview of reaction and developments during April to the growing issue, highlighting the complexity and breadth of the potential impact on pricing for patented pharmaceuticals and associated ingredients.

A Critical Juncture

The scale of the problem was laid bare at the Reuters Pharma Europe 2026 conference in Barcelona last month. Since Trump introduced the MFN policy, the number of drug launches in Europe has fallen by more than a third, analysis of data found, potentially hindering patient access to the latest innovative medicines. Emer Cooke, Executive Director of the European Medicines Agency, did not mince her words. "I think we're at a very critical point at the moment," she told the conference. "Everybody's struggling with ...

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