US tariff and pricing reforms drive pharma localization and spur outsourcing-led investment shifts
Escalating US tariff and pricing reforms are pushing pharmaceutical companies to localize manufacturing and rethink their investment priorities, fueling a surge in outsourcing-led strategies and targeted acquisitions.
The recent deals in obesity and liver disease, Pfizer’s (NYSE: PFE) purchase of Metsera (Nasdaq: MTSR) and Roche’s (ROG: SIX) acquisition of 89bio, underscore how dealmaking is increasingly shaped by policy incentives, tariff exposure, and the need for resilient, domestically anchored supply chains, says pharma analytics company GlobalData.
The deals come amid the Donald Trump administration’s push to localize pharmaceutical manufacturing and enforce Most-Favored-Nation (MFN) pricing. The new tariff policy, effective from October 1, 2025, will impose 100% tariffs on patented drug imports unless companies expand US production. Pfizer secured a three-year exemption by pledging lower prices and more domestic manufacturing, while Roche’s move aligns with its $50 billion US investment via Genentech.
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