Astrazeneca (AZN) does not expect material long-term impact from the potential US tariffs on import of medicines from Europe to the US, the company's chief executive officer Pascal Soriot said in Q1 earnings call Tuesday.
Soriot said the company has 11 manufacturing sites in the US, and majority of its medicines sold in the US are made domestically. In addition, the company is making mitigating efforts for the minority of medicines it imports from Europe for sale in the US.
Due to ongoing inventory management, the company expects to remain within its full-year 2025 guidance range provided the tariffs are implemented in line with other sectors.
"We now have 31 manufacturing sites globally, and we also supply for the vast majority of our medicines. Our supply chains for China and the US are largely segregated and we have very limited commercialized finished medicines imported from the US to China, meaning that our exposure to the current China tariffs on pharmaceuticals is not material in the context of the group," Soriot added.
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