Trump Put Up a Wall, But Pfizer’s CEO Is Ready to Slide Right In!

Pfizer CEO Albert Bourla hinted that the pharmaceutical giant might shift overseas drug production back to the U.S. if former President Donald Trump’s tariffs create complications.

Speaking at TD Cowen’s annual healthcare conference, Bourla addressed concerns about how Trump’s proposed tariffs could impact Pfizer’s operations. While many of the company’s generic drugs are manufactured abroad, he emphasized that Pfizer already has a strong domestic production network.

“We have 13 manufacturing sites in the U.S. right now, up and running,” Bourla stated. He described some of these facilities as “mega, mega sites.”

He reassured that the company has the capability to adapt. “So we have all the capabilities here, and the manufacturing sites are operating in good capacity right now. It’s not that they are not, but if something happens, we will try to mitigate by transferring from manufacturing sites outside, to manufacturing sites here, the things that can be transferred quickly.”

Bourla also spoke on the political landscape, stating he was not shocked by Trump’s electoral success.

“I was expecting him probably to win. It was very big win,” he said, acknowledging the uncertainties that come with a new administration. “But the important thing is, what are you doing about it? And what are you doing about it, is you try to influence the environment. From our perspective, the whole pharma industry and us as Pfizer, try to stay as close to the administration.”

On Monday, Trump announced that his administration would move forward with a 25% tariff on Mexico and Canada, set to take effect Tuesday. Originally scheduled for early February, the tariffs were delayed when both nations agreed to bolster their border security.

The Trump administration had already slapped a 10% tariff on China the previous month and planned to increase it by another 10%. Additionally, in a February 2024 interview with Fox News’ Maria Bartiromo, Trump vowed to impose tariffs exceeding 60% on Chinese goods if he returned to office.

However, Bourla downplayed concerns about the impact of these policies on Pfizer’s supply chain.

“When it comes to China, it’s not affecting us. As Pfizer, we haven’t any reliance on China right now, nor Canada or Mexico,” he said in a February 18 interview with CNBC.

He added, “We are waiting to see how that could play out with the tariffs in places that have not been announced yet.”

Pfizer representatives did not respond to Business Insider’s request for comment.