Albert Burla, chairman and CEO of Pfizer, spoke in the future of the Fays of Everything Festiv of Wall Street Journal in New York, USA, May 22, 2024.
Andrew Kelly | Reuters
Pfizer Executive Director Albert Burla on Tuesday said uncertainty about planned President Donald Trump Pharmaceutical It discourages the company from further investing in US production and research and development.
Burla’s remarks for the company Call for the first quarter profit It came to answer a question about what Pfizer wants to see from tariff negotiations that would encourage the company to increase the investments in the US that the drug manufacturers take care of Trump’s levies for pharmaceuticals submitted to the country – its administration’s application to increase domestic production.
“If I know there will be no tariffs … Then there are huge investments that can happen in this country, both in research and development and in production,” Burla said in the conversation, adding that the company also hopes for Security.
“In periods of uncertainty, everyone controls their costs as we do, and then is very frugal by their investment as we do so that we are prepared for Remit. So I want to see that,” Burla said.
Burla noted that the tax environment, which had previously pushed production abroad, “has” significantly changed “with the creation of a global minimum tax of about 15%. He said the change was not necessarily to make the US more attractive, saying that “it’s not so good” to invest here without additional incentives or clarity around tariffs.
“Now (Trump) I’m sure – and I know because I talked to him – that he would like to see even a reduction in the current tax regime, especially for local goods,” Burla said, adding that the more reduction would be a strong incentive for the US production in the US
Unlike other companies that are struggling with a growing trade policy, Pfizer did not review their year -round prospects on Tuesday. However, the company noted in the release of its profits that the guidelines “currently do not include a potential impact related to future tariffs and changes in trade policy that we cannot currently predict.”
But when the profit calls on Tuesday, Pfizer executives said the management reflects $ 150 million in cost from the existing Trump tariffs.
“Included in our directions, which we didn’t really talk about, is that there are some tariffs today,” Pfizer director Dave Dave Donton said during the conversation.
“We are considering that within our scope and we continue to reinstall ourselves at the top of our scope of directions, even with those costs that will be incurred this year,” he said.