--- title: "瑞銀集團警告稱，特朗普的 100% 仿製藥關税讓印度製藥公司 “警惕”；高盛指出本土化生產的受益者" type: "News" locale: "zh-HK" url: "https://longbridge.com/zh-HK/news/293483043.md" description: "瑞銀警告稱，印度製藥公司已 “被提醒”，因為特朗普提議從 2028 年 8 月開始對進口的仿製藥徵收 100% 的關税，以迫使生產回流到美國。印度作為美國仿製藥的供應國，佔 40%，儘管實施存在不確定性，但面臨重大風險。與此同時，高盛指出，AMRX、TEVA 和 VTRS 可能會從這一供應鏈轉變中受益，原因在於它們多元化的製造能力和美國基礎設施優勢" datetime: "2026-07-22T13:45:52.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/293483043.md) - [en](https://longbridge.com/en/news/293483043.md) - [zh-HK](https://longbridge.com/zh-HK/news/293483043.md) generator: "portal-rs" --- # 瑞銀集團警告稱，特朗普的 100% 仿製藥關税讓印度製藥公司 “警惕”；高盛指出本土化生產的受益者 President Trump will impose a 100% tariff on imported generic drugs starting in August 2028, rising to 200% a year later, unless manufacturers shift production to the US. "This is done in order to RESHORE Generic Pharmaceutical Production into America, with a penalty to those Companies that decide not to build Plant and Equipment within the stated period of time given to them," Trump wrote on Truth Social late Tuesday. He continued, "The objective of this Policy is to protect the people of the United States. The Policy on Patented, Branded, or Innovative Drugs, which has been so successful, will remain as is," adding, "Pharmaceutical Facilities are being built, at a level never seen before, all over the United States of America." Trump's announcement is the latest effort to reshore critical supply chains, and in this case, boost domestic production of generic drugs. Trump has been pressuring drugmakers through his most-favored-nation drug pricing policy to lower prices to what people pay in other high-income countries. At least 90% of medicines sold in the U.S. are generics. UBS analyst Aditi Samajpati told clients earlier that Trump's move to reshore generic drug production **puts Indian pharmaceutical companies "on notice."** Samajpati said: > *President Donald Trump has threatened steep tariffs on generic-drug imports to push manufacturing back to the US, though his plan includes a two-year tariff-free window before levies rise to 100% from August 2028 and 200% from August 2029. **India is highly exposed**: its generic medicines account for nearly 40% of US generic-drug volume, used widely to treat hypertension, diabetes, cancer, and infectious diseases.* > > ***In FY2024-25, India's pharma exports to the US totalled $9.7bn**, according to the Global Trade Research Initiative. Yet implementation is uncertain given prior unfulfilled tariff threats, a February bilateral trade pact that included negotiated outcomes for generics, and India's 30%-50% manufacturing-cost advantage. The risk of immediate disruption is limited as investors assess whether policy pressure can realistically shift low-cost supply chains back to the US, especially if execution stretches beyond Trump's term.* Goldman analyst Matt Dellatorre offered clients a way to profit from this announcement: > ***For our generics coverage, we view the group as relatively well-positioned given: AMRX (significant US infrastructure), TEVA (diversified manufacturing; branded portfolio), and VTRS (diversified manufacturing; limited US exposure).*** The national security case for reshoring critical generic-drug supply chains stems directly from Covid-era disruptions of essential medicines, active pharmaceutical ingredients, protective equipment, and medical devices. Years of offshoring have left the US dangerously dependent on foreign production, such as that in India. In the event of a future supply shock, particularly one triggered by conflict in the Pacific, Washington could be confronted with shortages far more severe than the Covid-era. Rebuilding domestic production would give the US greater resilience to absorb any future supply shock without jeopardizing access to critical medical supplies. ### 相關股票 - [TEVA.US](https://longbridge.com/zh-HK/quote/TEVA.US.md) - [VTRS.US](https://longbridge.com/zh-HK/quote/VTRS.US.md) - [UBS.US](https://longbridge.com/zh-HK/quote/UBS.US.md) - [AMRX.US](https://longbridge.com/zh-HK/quote/AMRX.US.md) - [GS.US](https://longbridge.com/zh-HK/quote/GS.US.md) - [W4VR.SG](https://longbridge.com/zh-HK/quote/W4VR.SG.md) ## 相關資訊與研究 - [梯瓦製藥與特朗普政府在 “慷慨” 框架下尋求達成醫療補助藥品定價協議](https://longbridge.com/zh-HK/news/297556474.md) - [梯瓦製藥與特朗普政府宣佈擬就平價藥品達成協議](https://longbridge.com/zh-HK/news/297556815.md) - [摩根大通的 Salveen Richter 重申對梯瓦製藥的買入評級，原因是 TEV-408 在 2a 期取得成功以及其產品中藴含的管線潛力](https://longbridge.com/zh-HK/news/297923035.md) - [瑞銀集團將其在 Soitec 的持股比例提高至資本的 5.07%，並擁有 4.06% 的投票權](https://longbridge.com/zh-HK/news/297930751.md) - [瑞銀集團稱 “實體人工智能” 已經出現，並推薦了市場中三個可以參與交易的工具和設備行業](https://longbridge.com/zh-HK/news/297929372.md) --- > **免責聲明: 本文僅供參考，不構成任何投資建議。**