美新一轮关税冲击新加坡医药制造业

Core Viewpoint - The U.S. government has announced a 100% tariff on all imported brand or patented drugs starting October 1, which significantly impacts the pharmaceutical market globally and poses a major challenge to Singapore's pharmaceutical manufacturing industry [1][2]. Group 1: Impact on Singapore's Pharmaceutical Industry - Singapore exports approximately 4 billion SGD worth of pharmaceuticals to the U.S., accounting for 13% of its total exports to the U.S., making it a key category [1]. - The majority of Singapore's pharmaceutical exports to the U.S. consist of brand or patented drugs, which are subject to the new 100% tariff, leading to a substantial increase in export costs and a potential doubling of drug prices in the U.S. market [2][3]. - The new tariff policy may prompt multinational pharmaceutical companies to reassess their global supply chains, potentially relocating some production capacity from Singapore to the U.S. or other regions, which could decrease capacity utilization and lead to job losses in Singapore [2][3]. Group 2: Economic Contributions and Future Outlook - The biopharmaceutical manufacturing sector is a vital part of Singapore's manufacturing industry, contributing about 4% to the GDP and expected to account for 11% of manufacturing in 2024 [2]. - The imposition of tariffs is likely to reduce the output and export revenue of Singapore's biopharmaceutical sector, adversely affecting the overall economic growth of Singapore [2]. - The long-term attractiveness of Singapore as a global biopharmaceutical hub may decline as multinational companies reduce investments and expansion plans in the region, limiting resources for research and innovation [3]. Group 3: Government and Corporate Responses - The Singapore government is actively engaging in discussions with the U.S. to seek exemptions or more favorable treatment regarding the drug tariffs [3][4]. - Singapore is also enhancing economic cooperation with other countries to diversify its market dependencies and exploring new business models, such as focusing on biotechnology and high-value service outsourcing [3]. - Many pharmaceutical companies in Singapore have already established or planned production capacities in the U.S., which may help them avoid the impact of the new tariffs [4].