Pharmaceutical companies have long complained Europe spends too little on drugs. It took the arrival of Donald Trump — threatening steep tariffs and accusing European countries of “freeloading” on the US — for the warnings to register.
In response to the threats, European governments raced to strike deals. The UK secured a zero tariff arrangement in return for higher spending on medicines and lower costs for drugmakers. The EU and Switzerland accepted a 15 per cent cap.
The question is whether these concessions will be enough to reset relations between the sector and Europe.
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