Biocon founder and executive chairperson Kiran Mazumdar-Shaw said the company views the proposed US tariffs on generic drugs as more of a negotiation tactic than a real threat. The Indian biosimilars manufacturer, which counts the US as its largest market, is adopting a wait-and-watch approach to the tariffs announced recently, according to livemint.com.
Mazumdar-Shaw explained that Biocon is not rushing to react to the tariffs and is instead exploring partnerships for manufacturing in the US if necessary. This strategy aims to mitigate any potential impact the tariffs might have on its business operations. The company remains focused on maintaining its position among the world's leading biosimilars producers while monitoring regulatory developments closely, the report said.
The US tariffs on generic drugs have raised concerns among Indian pharmaceutical exporters, as the US is a major market for them. Biocon’s stance highlights the company’s confidence in navigating trade tensions through strategic partnerships rather than immediate operational changes. This approach contrasts with some peers who have expressed worries about tariff impacts, underscoring Biocon’s measured response in a complex global trade environment.
Biocon’s next steps include continuing to evaluate the US market conditions and potential manufacturing collaborations. The company’s executive chairperson emphasized that the tariffs currently serve as a negotiation tool, with no immediate changes to Biocon’s US market strategy announced, as per the livemint.com report dated August 7.