New US tariffs would not cause drug shortages, but the cost of importing drugs from the US would eventually increase, former Food and Drug Administration director-general Kang Jaw-jou (康照洲) said today.
The National Health Insurance Administration (NHIA) should take an inventory of what drugs could only be imported from the US and look for alternative sources from Europe or other regions, Kang said.
Although pharmaceuticals were exempted from the tariffs announced by US President Donald Trump on Thursday last week, the White House is expected to soon announce another set of tariffs targeting the sector.
Photo: Chiu Chih-jou, Taipei Times
Currently, Taiwan does not impose any tariffs on drugs imported from the US, Kang said.
New tariffs would increase the cost of manufacturing drugs in the US, which would inevitably lead to higher drug prices when exported to Taiwan, he said.
Many new drugs and cancer medications could also be bought from Europe, and there are many similar alternatives, Kang said.
Even if the prices of US drugs increase, it is not likely to cause a drug shortage, as there are other drugs to buy, he said.
The NHIA should consider how drug prices may be impacted early on to plan how to properly respond, he added.
Kang also mentioned that domestic pharmaceutical contract manufacturers with factories in the US may want to consider switching to domestic production.
Other large companies that export goods could try reaching out to their business partners to find solutions, he added.
In addition to negotiating tariffs with the US, the government could also encourage and assist manufacturers to expand exports to Southeast Asia or Europe, Kang said.
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