David Ricks, CEO of Eli Lilly, stated that Donald Trump’s tariffs mark a significant shift in US economic policy that may hinder the pharmaceutical industry’s investment in new medicines. Despite recognizing the desire for domestic production, Ricks emphasized that tariffs could lead to job cuts and reduced research and development, particularly as Eli Lilly continues to invest in facilities abroad, including an $800 million site in Ireland. He warned that the UK’s pharmaceutical reputation is declining due to slow regulation and poor uptake of new medicines, indicating a need for improved market conditions to foster innovation.
