U.S. Exempts Clinical and Research Drugs from Tariffs… Attention Focused on Impact on Korean Pharmaceutical Industry
The U.S. government has recently established a new pathway to exempt drugs intended for clinical trials and research and development (R&D) from tariffs. This measure is aimed at revitalizing pharmaceutical development within the U.S. and reducing related costs, and it is expected to bring significant changes to the global pharmaceutical market.
This policy is expected to have a positive impact on Korean pharmaceutical companies as they conduct clinical trials or develop new drugs in the U.S. market. This is because a reduction in tariff burdens could lead to more active research activities by Korean firms within the U.S. Many experts evaluate this change as an opportunity to enhance the global competitiveness of Korean pharmaceutical and biotech companies.
Meanwhile, fierce competition is ongoing among global pharmaceutical companies regarding the efficacy of new drugs. Recently, in the migraine treatment market, Eli Lilly's 'Emgality' and Pfizer's 'Nurtec' have been comparing each other's clinical results to claim superiority. Such competition also serves as a factor that stimulates pharmaceutical companies to develop better treatments.
The U.S. government's tariff exemption measure is interpreted as an intention to stabilize the pharmaceutical supply chain and accelerate the development of innovative new drugs. Attention in the industry is now focused on how Korean companies will leverage these changes to achieve success in the U.S. market.