Health economists in Greece have expressed concerns regarding the potential implications of tariffs proposed by the United States on pharmaceuticals, warning of adverse effects on Europe's patients and the broader pharmaceutical industry.

President Donald Trump's administration has indicated plans to impose tariffs of at least 25% on various imported goods, including pharmaceuticals, as part of an effort to promote domestic manufacturing and reduce dependency on foreign suppliers.

Specific details on these measures are expected to be outlined by April.

This development follows the addition of new exemptions for certain goods from tariffs recently imposed on Canada and Mexico, creating a complex and uncertain trade landscape.

Analysts have pointed out that while tariffs on vehicles and semiconductors are anticipated, tariffs on pharmaceuticals are considered unusual due to their critical role as 'merit goods' essential for public welfare, which have typically been sheltered from trade disputes.

Professor Kostas Athanassakis from the University of West Attica noted that the international pharmaceutical supply chain, valued at over $900 billion, may face significant turbulence in the wake of the tariff announcements.

Athanassakis emphasized that tariffs on products with inelastic demand, such as innovative drugs, are likely to increase costs for consumers and insurers, particularly affecting third-party payers and potentially raising pharmaceutical expenditures in the near term.

Furthermore, Athanassakis characterized Trump's tariff strategy as an imminent threat to the global pharmaceutical landscape, which could create anxiety among patients worldwide.

In his view, this strategy risks undermining the EU's pharmaceutical policies, which aim to enhance research, development, and local drug production.

Professor Athanassios Vozikis from the University of Piraeus echoed these sentiments, highlighting the fragility of the European pharmaceutical market, particularly since a considerable portion of revenue for these companies comes from the US market.

He predicted that these tariffs could severely impact the sector's operations and profit margins.

The potential responses from European biopharmaceutical companies to these proposed tariffs remain uncertain.

There are discussions regarding the possibility of relocating drug production and clinical research back to the US or to other countries that do not impose tariffs.

Moreover, experts suggest that the EU may need to reassess domestic incentives for research and development to counterbalance the impact of these tariffs.

As the EU grapples with this evolving situation, attention will also focus on the legislative aspects pertaining to regulatory data protection, price competition for generics, and environmental standards, as companies and regulators seek to navigate the changing landscape.

In light of the challenges posed by these tariffs, some experts, including Vozikis, foresee an opportunity for innovation in the pharmaceutical sector, advocating for the embrace of digital technologies and international collaboration to foster a more resilient industry.

These developments occur amid ongoing scrutiny of the delicate balance between fostering local production and maintaining competitive pricing for consumers.