John Whelan: Smaller pharma firms to be impacted by new US tariffs 

The road ahead looks bleak for many of the medium and smaller companies who see the US as their main export market

EU pharmaceutical exports will receive a 15% tariff while 100% pharma tariffs will be applied to other countries. Picture: Jacquelyn Martin/AP

Despite the Iran war raging on, US president Donald Trump found time in April to roll out the 100% tariff rate on patented pharmaceutical products and ingredients under Section 232 of the Trade Expansion Act of 1962, according to the official White House “fact sheet”.

The high tariff will start in 120 days for large companies and 180 days for smaller drugmakers.