- Pfizer CEO has said he may transfer manufacturing to the United States in response to Donald Trump’s definitions.
- Albert Burla said he was not surprised by Trump’s victory in November.
- Trump threatened to impose a tariff on Mexico, Canada and China.
Albert Burla, CEO of PFIZER, said on Monday that the company had moved abroad to manufacture medicines to the United States if President Donald Trump’s tariff affects them.
Borla was talking at the TD Cowen annual health care conference when he was asked about the effect of Trump’s tariff on Phazer’s operations.
While most PFIZER general medications are produced abroad, Burla said the company has a large manufacturing network in the United States.
“We have 13 manufacturing sites in the United States at the present time,” Burla said, adding that some facilities are “Mega, Mega sites.”
“So we have all the capabilities here, and the manufacturing sites are working well at the moment. Not so, but if something happens, we will try to reduce by moving from manufacturing sites abroad, to manufacturing sites here, and things that can be transferred quickly,” Burla continued.
Borla also said at the conference he was not surprised by Trump’s victory in November.
“I was expecting him to win. It was a very big victory,” Burla said, adding that there would be “risks and opportunities” with the new administration.
“But the important thing is, what are you doing about it? And what do you do about it, are you trying to influence the environment. From our point of view, the entire drug industry and youngsters are trying to stay close to the administration,” Burla added.
On Monday, Trump said the White House will continue his plans to impose a 25 % tariff on Mexico and Canada starting on Tuesday. It was originally supposed to enter customs duties in early February, but was delayed after the two countries promised to enhance border security.
The Trump administration imposed a 10 % tariff on China last month and said it would end with an additional 10 % starting on Tuesday. In February 2024, Trump told Maria Barteromo Fox News that he would provide a tariff of more than 60 % on Chinese goods if he won the elections.
“When it comes to China, it does not affect us, as Pfizer, we do not rely on China at the present time, nor Canada or Mexico,” Burla told CNBC in an interview on February 18.
“We are waiting to see how this can play with the definitions in places that have not yet been announced,” Burla added.
Pfizer representatives did not respond to a comment from Business Insider.
