Later today, President Donald Trump is expected to announce sweeping tariffs on “all countries” intended to rebalance global trade and boost US manufacturing. Industries are bracing for impact — and so are wrinkle-haters. Tariffs are uncharted territory for drug companies. For years, the pharmaceutical sector has been protected from tariffs by a World Trade Organization agreement designed to improve access to life-saving drugs. Now, pharma is high on Trump’s list of targets. Drug manufacturers are already racing to figure out if their supply chains will remain viable. Even though sector-specific levies on pharmaceuticals aren’t expected today, potential reciprocal tariffs on countries like Ireland and Switzerland will be bad news for the drug industry. Those countries are home to manufacturing plants for major drugmakers. Ireland is a particularly fraught target — and one that Trump has previously singled out. Levies on the country would be a problem for most of the world’s top drugmakers, but particularly so for AbbVie, which makes its anti-wrinkle injection, Botox, there. Botox is made from one of the most toxic substances on Earth, botulinum toxin, and its purified medical recipe is a closely guarded secret. AbbVie’s Allergan unit makes Botox on the west coast of Ireland, in a town called Westport. Moving production to the US — like Trump wants companies to do — would likely be a major headache for AbbVie. (Not to mention, a potential national security issue.) The more likely scenario is that AbbVie will have to raise prices for its wildly popular drug, or eat the costs. For a drug like Botox, any increase in prices will hit patients because it’s largely used as an aesthetic treatment that isn’t covered by insurance. Here in New York City, Botox for forehead lines can cost from $200 to $600. How much are you willing to pay to be wrinkle-free? — Madison Muller |