Taiwan should improve its capabilities to manufacture generic drugs, which would reduce the effects of possible price increases due to US tariff policies, Taiwan National University Hospital president Yu Chung-jen (余忠仁) said this week.
Yu made the remark after US President Donald Trump said he intended to implement a 150 percent tariff on imported drugs, with a possible increase to 250 percent.
Pharmaceutical companies typically have uniform prices globally — with market-based demand and local regulations having an effect — but the tariff threat has prompted them to mull region-based pricing, Yu said.
Photo: Reuters
Taiwanese would benefit if pharmaceutical companies drop prices outside the US, but they might increase them, he said.
Regardless, the National Health Insurance would face added pressure if prices rise and people in Taiwan would face the same issue for branded drugs, he said.
To reduce reliance on brand-name drugs, Taiwan should step up efforts to enhance generic drug manufacturing capabilities, he said, adding that ingredient sourcing is a major factor in that goal, as without them, production lines would grind to a halt.
Moreover, the US’ motives for pharmaceutical tariffs are defensive, and would affect generic and branded drugs exported by Taiwan, Yu said.
However, Southeast Asia and South America are the top markets for Taiwan’s drug exports, and they rarely enter the US, he added.
On Thursday, Minister of Health and Welfare Chiu Tai-yuan (邱泰源) said that the ministry has launched four measures to ensure stable drug provision and prices.
A platform to monitor drug shortages would be established, while the risk of shortages of essential drugs should be monitored and backups prepared, Chiu said.
The ministry is looking to increase its reserve of drugs and drug-manufacturing ingredients, he said.
The National Health Insurance Administration (NHIA) and the Food and Drug Administration would work together to ensure that prices for essential drugs would not be lowered to keep manufacturers interested in the Taiwan market, he added.
The ministry would provide incentives, including a three-year price freeze to encourage local production of generic and biosimilar drugs, he said.
The ministry has allocated NT$20 billion (US$666.44 million) to offset the effects of US tariffs, Chiu said.
NHIA Director-General Shih Chung-liang (石崇良) said that his agency has introduced multiple measures to encourage drug manufacturing, citing an initiative launched last year to promote production of biosimilars, aiming to have a market distribution of 70 percent generic drugs and 30 percent biosimilars within three years.
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