Novartis (NVS) said Friday that the newly announced 100% tariff on branded or patented pharmaceutical products will not impact it as it continues to advance its plan to ensure key medicines for US patients are manufactured locally.

The statement comes after US President Donald Trump said that a 100% tariff would be imposed on branded or patented pharmaceutical products unless the owning company is building a manufacturing plant in the country.

"Our $23 billion investment in US-based infrastructure continues to progress as we work to ensure all key Novartis medicines for US patients will be made in the United States," the drugmaker said in an emailed statement to MT Newswires.

"We have ongoing construction and expect to announce five new sites to be under construction before end of year. We are well prepared with product supply in the US through mid-2026," the company also said.