CSL says ‘most’ US product sales not subject to new tariffs
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The news: Biotech group CSL said most of its US product sales will not be subject to tariffs, after the Trump administration announced last week that it intends to impose duties on pharmaceutical products imported to the US.
The context: CSL’s US plasma therapies are derived entirely from US sourced plasma. The company said it continues to invest in manufacturing and job creation in the US, recently announcing plans to spend $1.5 billion to expand its plasma therapy manufacturing capabilities in Illinois.
CSL subsidiary Sequirus’ primary product sold in the US is the influenza vaccine Fluad, which is manufactured in the UK where the tariff rate is currently 10%. CSL expects this tariff will reduce to 0%.
The effective date for any tariff impacts is 29 September.
What they said: “CSL is pleased the US administration has recognised the unique nature of plasma-derived therapies under the proclamation,” the company said.
“This is consistent with the longstanding approach of special policy accommodations to ensure patient access to these life-saving therapies.”
The source: ASX
