Medicines Australia firmly oppose US tariffs on pharmaceuticals

26 September 2025: Medicines Australia firmly opposes the introduction of tariffs from 1 October on Australian branded and patented medicines exporting to the US. We are engaging with our members and Government agencies to seek clarification and assess the implications.

According to the Australian Government, Australia has a pharmaceutical trade deficit with the US. In 2024, Australia exported around A$2.2 billion in pharmaceutical products to the United States (US) but imported around A$4 billion.

Medicines Australia and our members support free, fair, and open trade. Whilst the US administration’s intention is to draw manufacturing and jobs back to the US, this measure will affect global investment in the life science sector, where Australia plays a key role.

“From an Australian perspective we are more concerned with the Most Favoured Nation reference pricing benchmark proposal as Australian prices are already very low, compared to comparable countries. This is already impacting Australian patients access to new innovative treatment options – with decisions being made to slow new products launching in Australia which will exacerbate the delays to listing on the PBS,” states Liz de Somer, CEO.

“We therefore need to move urgently forward with the proposed reform to our Health Technology Assessment (HTA) to make the PBS faster, fairer and fit for the future and we need to see greater investment in the PBS to reverse the decades long decline in investment. For the patient community, their families and healthcare professionals, there is no time to wait. We started this process several years ago and we must now work quickly towards actions and implementation,” she adds.

Media enquiries to: Anne-Marie Sparrow, Medicines Australia /Cube – media@medicinesaustralia.com.au or 0417 421 560.

About Medicines Australia

Medicines Australia leads the research-based pharmaceutical industry of Australia. Our members discover, develop and manufacture the medicines that are the foundation of a healthy and prosperous society, including prescription pharmaceutical products, biotherapeutic products and vaccines. Our members invest in Australian medical research and take local discoveries and developments to the world.