South Korean biopharmaceutical firm Celltrion has unveiled a detailed strategy to mitigate potential risks from US President Donald Trump’s proposed tariffs on imported pharmaceuticals.

President Trump recently announced that his administration is considering imposing medicine tariffs of up to 200 per cent, although drugmakers would be given about a year “to get their act together”.

In a letter to shareholders, Celltrion said it has been continuously monitoring developments regarding the potential imposition of US pharmaceutical tariffs and has prepared response strategies for various scenarios to minimise potential impact.

The company's strategy is structured into three key phases.

For the short-term strategy, the company revealed that it has already secured a two-year inventory supply and plans to maintain this level on a rolling basis moving forward.

As a mid-term strategy, Celltrion has finalised contracts with local CMO (Contract Manufacturing Organisation) partners to enable local production of products sold in the U.S.

For the long-term, the company stated that it is reviewing the acquisition of a company with manufacturing facilities in the US and that it will promptly provide further details to its shareholders once the matter becomes more concrete.

Celltrion aims to finalise all preparatory measures by the end of next year, regardless of the final scope or timing of the US tariff policy.

 “As shared during the investor day in May, we are systematically implementing our response plan not only for the short term but also for the mid to long term. Regardless of when or to what extent the US pharmaceutical tariff policy is finalised, our goal is to have all necessary preparations in place by the end of next year to ensure minimal impact on our business,” the letter stated.

Headquartered in Incheon, South Korea, Celltrion is the country’s leading biosimilar manufacturer and exporter, boasting an annual production capacity of 250,000 litres.