The Trump administration is reportedly preparing to announce 100% tariffs on pharmaceutical companies that have not secured pricing deals with the White House.

The announcement could come as soon as Thursday, Bloomberg reported, citing people familiar with the matter.

The tariffs stem from a Section 232 investigation under the Trade Expansion Act, invoking national security grounds. Companies neither holding agreements nor in active negotiations face the full levy. Exemptions for certain medicines and disease categories remain possible, according to the report.

The White House did not respond to Benzinga‘s request for comment.

The Compliance Push

Most major drugmakers have already struck deals to avoid the tariffs. Pfizer Inc. (NYSE:PFE), Eli Lilly and Co. (NYSE:LLY), AstraZeneca PLC (NYSE:AZN), Novo Nordisk (NYSE:NVO), and Johnson & Johnson (NYSE:JNJ) secured three-year reprieves by agreeing to most-favored-nation (MFN) pricing. J&J also pledged a $55 billion U.S. investment, including two new manufacturing plants.

Tariffs Back A Wider Pricing Push

The tariff threat is part of a wider pricing strategy that also includes the launch of TrumpRx.gov earlier this year. The platform allows consumers to compare discounted drug prices and access coupons at participating pharmacies, reinforcing the administration’s focus on lowering out-of-pocket costs. Amgen Inc. (NASDAQ:AMGN) and GSK plc (NYSE:GSK) have joined the initiative, bringing the total number of discounted drugs available through the platform to 54.

Why Americans Are Watching Closely

Healthcare is now Americans’ top concern. A Gallup poll shows 61% worry “a great deal” about affordability. The ongoing U.S.–Iran war has pushed gas above $4 per gallon. The Federal Reserve held rates at 3.50%–3.75%, projecting inflation at 2.7%.

Some 82 million Americans have cut basic expenses to cover medical bills. Nearly 24 million have delayed retirement. Bank of America Securities warns hospitals face a 2–4% annual EBITDA headwind, with Universal Health Services (NYSE:UHS) among the most exposed.

Billionaire Mark Cuban has defended TrumpRx, saying it is genuinely helping patients. “Anything that opens the door for lower price medications I’m a fan of,” he said.

Disclaimer: This content was produced with the help of AI tools and was reviewed and published by Benzinga editors.

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