Pharma final tariff still under investigation (link below). But let's assume 10%. US revenues were c58% of Novo (DKK167b). Novo already manufactures in the US, acquired a firm (Catalent, link below) also manufactures in US and Novo has USD 4.1b planned expansion of manufacturing in the US (link below). That investment could get them exempt or a small impact on imports only. I haven't seen a disclosure on US manufacturing size, and this piece is just a first look. But if we assume a 50% import on the 58% sales then that's DKK 84b. A 10% impact (or DKK 8.4b) is only 2.9% of total sales or 5% of US sales. Best guess they either pass that on, or partially pass on, or spread across all products, or find other ways to offset.
I'm glad you liked the article. Please don't spam in comments. You posted the same comment 10 hours ago, hence it looks like you are spamming. I was forced to delete that duplicate comment.
What about potential U.S. tariffs on pharma?
Pharma final tariff still under investigation (link below). But let's assume 10%. US revenues were c58% of Novo (DKK167b). Novo already manufactures in the US, acquired a firm (Catalent, link below) also manufactures in US and Novo has USD 4.1b planned expansion of manufacturing in the US (link below). That investment could get them exempt or a small impact on imports only. I haven't seen a disclosure on US manufacturing size, and this piece is just a first look. But if we assume a 50% import on the 58% sales then that's DKK 84b. A 10% impact (or DKK 8.4b) is only 2.9% of total sales or 5% of US sales. Best guess they either pass that on, or partially pass on, or spread across all products, or find other ways to offset.
https://www.reuters.com/markets/us-initiates-section-232-investigations-into-pharmaceutical-semiconductor-2025-04-14/
https://www.catalent.com/catalent-news/novo-holdings-completes-acquisition-of-catalent/
https://www.euronews.com/business/2024/06/25/wegovy-and-ozempic-maker-novo-nordisk-throws-weight-behind-billion-dollar-us-plant
I'm glad you liked the article. Please don't spam in comments. You posted the same comment 10 hours ago, hence it looks like you are spamming. I was forced to delete that duplicate comment.