AstraZeneca CEO: Trump tariffs 'not material long term'

AstraZeneca (AZN) CEO Pascal Soriot is not overly acrophobic astir the menace of tariffs by the Trump medication connected pharmaceuticals and said a much favorable firm taxation recognition could motivate the manufacture to reshore manufacturing.

"We judge the champion mode guardant is to not complaint tariffs connected pharmaceuticals but [instead] make an situation that attracts investments done an charismatic firm taxation rate," Soriot told Yahoo Finance successful an interrogation Tuesday.

He said connected an net telephone earlier Tuesday that the institution does not presumption the tariffs arsenic a semipermanent headwind.

Tariffs are "certainly not worldly agelong term," Soriot said, adding that AstraZeneca volition trust connected the existing planetary web to displacement manufacturing arsenic needed.

That includes 11 manufacturing sites successful the US, which nutrient some tiny and ample molecules. Most of the products sold successful the US are manufactured successful the US, Soriot told Yahoo Finance.

The institution antecedently announced plans to grow manufacturing and R&D successful the US to the tune of $3.5 billion, Soriot and different executives reiterated during the call.

Read much astir AstraZeneca's banal moves and today's marketplace action.

AstraZeneca reported mixed archetypal 4th net Tuesday, sending its banal up conscionable nether 2% successful trading.

The institution reported halfway net per stock of $2.49, compared to Wall Street estimates of $2.26 per share. Revenues came successful astatine $13.59 billion, missing Wall Street's estimates of $13.76 billion.

Soriot has precocious accrued the company's visibility, lobbying connected some sides of the pond. That includes rejoining the industry's apical lobbying radical successful the US, PhRMA, aft a two-year hiatus, and pushing the European Union to put much successful R&D for medicines.

He told Yahoo Finance that a batch of innovation successful the manufacture "is funded by the US."

"So our presumption is that Europe has to allocate much backing to innovative pharmaceuticals," Soriot said. "Europe has to lend to this innovation effort. It can't conscionable beryllium the US."

Anjalee Khemlani is the elder wellness newsman astatine Yahoo Finance, covering each things pharma, insurance, attraction services, integer health, PBMs, and wellness argumentation and politics. That includes GLP-1s, of course. Follow Anjalee connected societal media platforms X, LinkedIn, and Bluesky @AnjKhem.