Economist Podcasts Drug war: Trump takes on big pharma
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May 15, 2025 
Shalash Chitnis, a business writer at The Economist, joins Noah Snyder, East Asia Bureau chief, and Catherine Nixey, culture correspondent, to delve into pressing topics. They discuss Trump's plan to cut drug prices and its potential drawbacks for consumers. The podcast also uncovers North Korea's alarming cryptocurrency heists, revealing significant thefts tied to sophisticated hacking operations. Additionally, they pay tribute to Alvaro Mangino, reflecting on his survival story from the Andes crash and its moral implications.
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Tariffs Threaten Pharma Manufacturing
- Tariffs pose a greater threat than price cuts, potentially forcing pharma to onshore manufacturing and intellectual property.
- Onshoring is complex and costly, involving manufacturing and relocating IP to the US.
Pharma Investing to Counter Tariffs
- Pharma companies have announced over $150 billion investments to boost US manufacturing capacity.
- However, building capacity takes years and tariffs could still increase costs, possibly hurting R&D.
US FDA Turmoil Risks Drug Development
- FDA staff cuts and a skeptical Health Secretary create uncertainty that could delay drug approvals.
- US drug industry changes affect global medicine development due to its central role in innovation.