Novartis (NYSE:NVS) chief executive Vas Narasimhan said on Tuesday that the group expects to be largely insulated from any future tariffs, supported by its arrangements with the U.S. government and a growing manufacturing footprint in the country.
“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 told CNBC.
He highlighted Novartis’ $23 billion manufacturing investment programme announced last year, adding that work on these projects is advancing as planned and should further reduce the company’s exposure to trade-related risks.
The drugmaker is accelerating efforts to deepen its U.S. manufacturing base, enabling it to supply the American market from domestic facilities rather than relying on imported products that could be hit by tariffs.