Taiwan could be among the first markets to be “sacrificed” if the US significantly raises tariffs on pharmaceuticals, an academic said, urging the government to promote the use of generic drugs and stockpiling of branded medications.
US President Donald Trump on Friday said that tariffs on foreign pharmaceuticals are “under review,” the New York Times reported.
Reached for comment, Federation of Taiwan Pharmacists Associations president Huang Jin-shun (黃金舜) said that Taiwan is unlikely to be significantly affected in the short term, as most of the medicines used domestically are imported.
Photo: Taipei Times
Up to 75 percent of medicines used in Taiwan — including cancer treatments, vaccines and antibiotics — are imported, primarily from the US, Huang said.
However, Trump’s proposed tariffs would target foreign-made drugs imported into the US and would not directly affect Taiwan’s imports, he said.
However, the implications could extend beyond pricing, as increased US tariffs could reduce global pharmaceutical production capacity, Huang said.
For example, “a manufacturer producing 100,000 tablets per month might scale back to 60,000,” he said.
In such a scenario, Taiwan could be among the first markets to face supply cuts due to its relatively small market size and the low-profit margins caused by the National Health Insurance system’s price controls, he added.
If production drops, pharmaceutical companies are likely to prioritize high-profit markets over Taiwan, Huang said.
While Taiwan is not a major exporter of pharmaceuticals, it maintains a competitive presence in some generic drug markets, he said.
Most of Taiwan’s pharmaceutical exports to the US fall under six major categories: vitamin D derivatives for treating osteoporosis and psoriasis, benzonatate — commonly used for bowel inflammation — cardiovascular drugs, dermatological treatments and generic active pharmaceutical ingredients, he said.
To strengthen the nation’s pharmaceutical supply chain, Huang urged the government to address public misconceptions about generic medicines and promote their use.
He also recommended that the government begin stockpiling high-priced brand-name medications to prepare for potential supply disruptions.
Generic drugs are manufactured by certified companies using the same ingredients and processes as brand-name drugs after patent expiration, the Taiwan Generic Pharmaceutical Association said.
They are identical in intended use, dosage form, safety, efficacy, administration route and quality, it added.
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