Irish-based pharma giants warn EU of €100bn investment threat over US tariffs

Signed by companies including Ireland-headquartered giants such as Pfizer, Eli Lilly, and MSD, the letter warns that EU member states were at risk of losing out from an industry 'exodus'. Picture: Dan Linehan

Major pharmaceutical companies have warned the European Commission that they may divert up to €100bn they had planned to invest in Europe to the US and elsewhere.

Signed by companies including Ireland-based giants such as Pfizer, Eli Lilly, and MSD, the letter warns that EU member states were at risk of losing out from an industry “exodus” as firms were looking to increase manufacturing capacity elsewhere, the Irish Times has reported.