Telix Pharmaceuticals expects no 'material impact' from tariffs
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The news: Telix Pharmaceuticals says it does not expect any material impact on its business or supply chain as a result of international trade tariffs announced by the US government last week.
The numbers: Telix shares were down 3.9% to $22.71 at 2:20pm AEST, roughly in line with a 4% decline by the benchmark ASX 200 index.
The context: The biopharmaceutical company noted that it has an extensive US-based manufacturing and distribution infrastructure, including third-party manufacturing sites and radiopharmacy partner networks, for the production and delivery of its regulatory approved products Illuccix and Gozellix.
Telix also flagged that the majority of its workforce is based in the US and that pharmaceutical products are currently exempt from the reciprocal tariffs.
The company added that it does not rely on rare earth elements of the kind utilised in semi-conductor supply chains to create its products, and is therefore not impacted by the export controls imposed by the Chinese government.
Meanwhile, Telix acknowledged reports of "significant change" at the US Food and Drug Administration (FDA) but said it continues to process applications and information requests, and it has not been notified of any changes to the timelines for ongoing applications to the FDA.
The source: ASX
