Jan 20 (Reuters) – Novartis (NOVN.S) CEO Vas Narasimhan instructed CNBC on Tuesday he expects the drugmaker’s settlement with the U.S. authorities and its increasing manufacturing footprint within the nation to defend it from potential tariffs.
“We expect to be in a position by middle of this year where we are not really exposed to tariffs, because we’re able to produce in the U.S. for the U.S.,” Narasimhan mentioned.
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He famous the corporate final yr introduced $23 billion in manufacturing investments and is progressing these tasks to additional scale back exposure.
The Swiss drugmaker additionally has an settlement with the U.S. authorities that would exempt it from tariffs, Narasimhan mentioned, including that the corporate can also be “future‑proofed” if its merchandise are topic to levies.
Reporting by Gnaneshwar Rajan in Bengaluru; Editing by Leroy Leo
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