President Trump announced a new tariff schedule for generic drugs, starting with two years of zero tariffs, then a 100% levy in August 2028, rising to 200% in 2029. This policy aims to incentivize generic drugmakers to move production to the U.S., significantly impacting countries like India, which supplies nearly 50% of U.S. generic medicines.
Promomed and the Fund for Development of Industry (FRP) signed an agreement at SPIEF to launch small-batch drug production. FRP will provide 940 million rubles in preferential financing for the project, which aims to produce 47,000 packages annually by 2031.
China has imposed new export controls on three precursor chemicals to the US, Canada, and Mexico, following a recent summit with US leaders. This move, alongside warnings about other chemicals, aims to curb synthetic drug production. The restrictions come amid ongoing US-China tensions, including competition in AI technology, where Donald Trump expressed concerns about maintaining US leadership.
