European pharma companies warned the European Commission president at a meeting on Tuesday that US tariffs would expedite the industry's shift away from Europe and toward the United States.
Pharma trade lobby EFPIA, whose members include European pharma giants Bayer, Novartis, and Novo Nordisk, said it had called on EU President Ursula von der Leyen to push for "rapid and radical action" to mitigate the "risk of exodus" to the United States.
Pharmaceuticals were exempt from sweeping tariffs on US imports, which was announced by US President Donald Trump last week, but he has said they will face separate tariffs.
EFPIA said the EU needs to change its regulatory framework for the industry to make it more conducive to innovation and strengthen Europe's intellectual property provisions.