One big pharma company says tariffs won't rush its production back to the US just yet.

Good morning. This is The Marketplace Morning Report and we're live from the BBC World Service.

I'm Leanna Byrne. So it's been another big week for tariffs news and like lots of sectors,

pharmaceuticals are still in the dark about what rates they could be hit with. But one

of the biggest players, Sandos, says tariffs won't tempt it to bring back manufacturing

stateside. The BBC's Felicity Hannah has been speaking to Sandos's CEO, Richard Sainer.

Hello, Flis. Hi, Leanna. So, first of all, this isn't a household name, is it? What exactly does Sandus do?

So unlike big-name companies like Pfizer or AstraZeneca that develop new drugs, what Sandus does is focus on generics and what's called biosimilars.

And these are essentially copycat versions of the brand name medicines that become available once the original patents expire,

and then they can be sold at a fraction of the cost.

Now, President Donald Trump has threatened big new duties on farmer imports, up to 250%.

So what Sandoz's take on that?

Well, interestingly, Richard Sainer said he understands where the president is coming from,

especially when it comes to that issue of the price of drugs. Here's what he had to say.

I think a lot of his frustration and rhetoric, I'd broadly agree with, is that patients have

frequently paying very high prices for medicines that are much cheaper in Europe and in the UK, sometimes up to 10 or 12 times

higher. What's happened over years is pricing has got so low that frequently manufacturing gets

moved offshore. So we no longer have very little manufacturing left in the US. A lot of that

manufacturing has moved to India and China because it's been the race to the bottom.

And is that pressure prompting companies like Sanders to bring manufacturing back to the US?

I mean, he was talking about that because that's the whole point of these tariffs, isn't it?

Well, you would think so, but not yet.

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