Albert Bourla, president and CEO of Pfizer, speaks at the Future of Everything Festival of Wall Street Journal in New York City, USA, May 22, 2024.
Andrew Kelly | Reuters
Pfizer The CEO Albert Bourla said on Tuesday that the uncertainty about the planned pharmaceutical rates of President Donald Trump is deterring the company to invest even more in the manufacture, research and development of the United States.
Bourla’s comments about the company’s first quarter’s earning calls occurred in response to a question about what Pfizer wants to see of tariff negotiations that would boost the company to increase investments in the US. UU. They see when drug manufacturers prepare for Trump’s taxes on the imported pharmaceutical products in the country, the commitment of their administration to the national administration.
“If I know there will be no tariffs … then there are tremendous investments that can happen in this country, both in R&D and in manufacturing,” Bourla said when calling, adding that the company also expects “certainty.”
“In periods of uncertainty, everyone controls their cost as we are doing, and then it is very frugal with its investment, as we are doing, so that we are prepared for the Remit. So that’s what I want to see,” Bourla said.
Bourla pointed out that the fiscal environment, which had previously pushed manufacturing abroad, has “changed significantly now” with the establishment of a minimum global tax of around 15%. He said that the change has not necessarily made the United States more attractive, saying “it is not so good” to invest without additional incentives or clarity around tariffs.
“Now [Trump] I am sure, and I know because I spoke with him, that he would like to see even a reduction in the current tax regime, particularly for the goods produced locally, “said Bourla, and adding an additional decrease would be a strong incentive for manufacturing in the United States.
Unlike other companies that fight with evolving commercial policy, Pfizer did not review their entire year perspective on Tuesday. However, the company pointed out in its profit statement that the guide “currently does not include any potential impact related to future tariffs and changes in commercial policies, which we cannot predict at this time.”
But in the earning call on Tuesday, Pfizer executives said the guide reflects $ 150 million in costs of Trump’s existing rates.
“Including in our guide we really don’t talk about is that there are some rates in its place today,” said Pfizer Dave Denton’s financial director in the call.
“We are contemplating that within our guidance range and we continue to tend to the upper end of our guidance range even with those costs to incur this year,” he said.
