Jan 20 (Reuters) – Novartis CEO Vas Narasimhan told CNBC on Tuesday he expects the drugmaker’s agreement with the U.S. government and its expanding manufacturing footprint in the country to protect it from potential tariffs. “We expect to be in a position by middle of this year where we are not really exposed to tariffs, […]
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Novartis expects to eliminate US tariff exposure by mid‑2026, CEO tells CNBC
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Jan 20 (Reuters) – Novartis CEO Vas Narasimhan told CNBC on Tuesday he expects the drugmaker’s agreement with the U.S. government and its expanding manufacturing footprint in the country to protect it from potential tariffs.
“We expect to be in a position by middle of this year where we are not really exposed to tariffs, because we’re able to produce in the U.S. for the U.S.,” Narasimhan said.
He noted the company last year announced $23 billion in manufacturing investments and is progressing those projects to further reduce exposure.
The Swiss drugmaker also has an agreement with the U.S. government that could exempt it from tariffs, Narasimhan said, adding that the company is also “future‑proofed” if its products are subject to levies.
(Reporting by Gnaneshwar Rajan in Bengaluru; Editing by Leroy Leo)