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Pharmacists outside of major corporations voiced concerns about increased costs and supply shortages in response to proposed tariffs

Domestic drug producers' tariffs pose potential risks, as they may escalate prescription costs, induce medication shortages, and potentially force independent pharmacists out of the industry.

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4 min read
Pharmacists not linked to drug companies foresee potential price hikes, medication shortages, and...
Pharmacists not linked to drug companies foresee potential price hikes, medication shortages, and their own demise, if proposed tariffs force domestic drug production.

Pharmacists outside of major corporations voiced concerns about increased costs and supply shortages in response to proposed tariffs

HOST LEILA FADEL,

Here's the scoop about President Trump's proposed tariffs on imported pharmaceuticals. While big pharma might have their A-game for weathering the storm, it's a different ballpark for independent pharmacists. These small-time bosses are trying to get a grip on the chaos with limited info. Jackie Fortier of KFF Health News dives into the drama.

Salt Lake City pharmacist Benjamin Jolley backs tariffs on pharmaceuticals for national security reasons. But, wait for it, tariffs could also shove independent pharmacists like Jolley out of business.

Jolley exclaims, "I'm not confident that we're doing it the right way, and man, these tariffs will undoubtedly boost the price I dish out to my suppliers."

Independent pharmacists are already wrestling with high operating costs and stingy insurance reimbursement for generic meds. Many of these pharmacies were on the brink pre-Trump's trade war.

Scott Pace, a pharmacist and owner in Little Rock, Arkansas, is trying to preempt the unknowns of pharmaceutical tariffs.

Pace says, "We're swimming in uncertainty here. We've no clue about the products, whether it's the active ingredient, the final product, or the plastics, vials, or labels – will these be slapped with tariffs?"

Unlike other retailers, pharmacies can't just shift their losses onto customers. The money customers fork over is already set in stone under contracts with health insurance companies and pharmacy benefit managers. So, if tariffs happen, Pace is dreading the idea that pharmacists will have no escape but to swallow the increased cost.

Pace takes a proactive approach, stockpiling a three-month supply of his most common generics, things like diabetes drugs, blood pressure medicines, and antibiotics. These are the life-savers he knows folks can't live without.

But John Murphy, president of the Association of Accessible Medicines, a trade group for generic manufacturers, warns a tariff tsunami could trigger shortages.

Murphy spills, "Boost the cost of a medicine with less than a 5% margin via tariff? They might just not sell these meds in the USA."

Most pharmaceutical drugs go through a global carousel before landing in your medicine cabinet. That pill from this morning probably started as an ingredient made in China or India, then shipped to factories elsewhere in Asia or Europe, ending up as a medication. Murphy opines that no tariff can force generic drugmakers to set up factories in the US. It's a mix of fierce global competition and a patchwork of state and federal laws controlling reimbursement that pummels their profits.

Murphy worries, "We don't spare change for generic drugs in the USA for anyone to make the investment required to build new facilities here."

Neil Smoller, a pharmacist and owner in Woodstock, New York, is dreading the uncertainty.

Smoller visible shudders, "I'm panicking. How do I balance caring for my community with standing the financial heat from fluctuating prescription costs?"

Independent pharmacies struggling to survive are an ominous sign. And if tariffs on any prescription drugs go live, these pharmacies on the brink will sink like rocks.

Fade out, that's Jackie Fortier with KFF Health News filling us in on the tariff drama. Stay tuned for more updates on this quickly evolving situation.

  1. Community members are expressing concerns about President Trump's proposed tariffs on imported pharmaceuticals, fearing it could adversely affect independent pharmacies that cater to their health needs.
  2. The finance industry is closely watching the tariff scenario, with investors assessing its potential impact on big pharma and the broader healthcare and wellness sector.
  3. Weathering the storm of potential pharmaceutical tariffs is a different challenge for independent pharmacists, who are already struggling with high operational costs and meager insurance reimbursement for generic medications.
  4. The travel and lifestyle industry may see a ripple effect as healthcare costs increase due to tariffs, potentially impacting personal finance and the overall economy.
  5. The home and garden sector, particularly online pharmacy retailers, could also feel the heat if pharmaceutical tariffs drive up costs for independent pharmacists, prompting consumers to seek alternative channels for their prescriptions.
  6. The proposed tariffs on imported pharmaceuticals have sparked discussions in the technology industry, with data and cloud computing experts analyzing the potential implications on business operations, wealth management, and banking and insurance sectors.
  7. Relationships between independent pharmacists, pharmaceutical manufacturers, and insurance companies are set to undergo a test with the uncertain tariff landscape, balancing concerns for patient health with industry profitability.
  8. Pets and their owners could potentially experience changes in the cost and availability of necessary medications if pharmaceutical tariffs lead to shortages or price hikes.
  9. In the sports industry, the tariff drama could affect the wellbeing of athletes, coaches, and the general public if access to essential medications becomes limited.
  10. The tariff situation presents an opportunity for the mental health sector, as increased stress and anxiety among independent pharmacists may lead to an uptick in the need for therapy services and treatments.
  11. Food and drink industry professionals are keeping a watchful eye on the tariff controversy, understanding that any disruption in the pharmaceutical supply chain could have indirect effects on consumer health and wellness.
  12. The proposed tariffs on pharmaceuticals could have a domino effect on the real estate market, as independent pharmacies struggling to stay afloat may be forced to close their doors, impacting local communities and commercial property values.
  13. journalist Jackie Fortier from KFF Health News delves into the intricate tapestry of competing interests, answering questions about the impact of pharmaceutical tariffs on the broader lifestyle, finance, technology, and industry landscape.

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