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Goaded by Tariffs, European Pharmaceutical Industry Pivots to the US

Analysts say drugmakers wouldn’t risk a disadvantage in the United States, the world’s biggest economy and pharmaceutical market.
Goaded by Tariffs, European Pharmaceutical Industry Pivots to the US
US dollar banknote and medicines are seen in an illustration photo. Dado Ruvic/Reuters
Evgenia Filimianova
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The U.S. tariff policy and its unmatched pharmaceutical market are pulling European drugmakers to invest more heavily, from new manufacturing plants to U.S. stock listings and discount pricing deals.

Since early 2025, European drugmakers have stepped up their U.S. presence. In the most recent move, the United Kingdom’s giant AstraZeneca announced on Sept. 29 a direct listing on the New York Stock Exchange, just months after pledging $50 billion of U.S. investment by 2030.
Evgenia Filimianova
Evgenia Filimianova
Author
Evgenia Filimianova is a UK-based journalist covering a wide range of international stories, with a particular interest in foreign policy, economy, and UK politics.