Trump trade war may hit Musk’s go-to weight-loss drug
US President Donald Trump announced this week plans to impose heavy tariffs on the pharmaceutical industry “soon”, aiming to bring drug manufacturing back to American soil. He called it a “tremendous problem” that the US is no longer able to produce sufficient antibiotics for its own population.
Ozempic, a weight loss drug, is the same one that even billionaire and Trump’s adviser Elon Musk admitted to using.(AP)
Speaking at a Republican Party fundraiser on Tuesday, Trump said, as quoted by the BBC: “We’re going to be announcing very shortly a major tariff on pharmaceuticals. And when they hear that, they will leave China.”
Addressing reporters aboard Air Force One last week, he said that “pharma” tariffs would be imposed “at a level that you haven’t really seen before”, and confirmed these would be revealed “in the near future.”
For years, most countries — including the US — have maintained minimal or zero tariffs on finished medicines, a policy shaped by a 1995 World Trade Organisation (WTO) agreement to ensure access to affordable healthcare.
Until now, pharmaceutical products have largely escaped the brunt of trade tariffs. But buyers are now bracing for possible changes.
Experts warn that Trump’s tariff strategy could disrupt the global supply of crucial medications, including popular weight loss injections like Mounjaro and Ozempic, which are widely used by millions in the UK. Ozempic is the drug that even billionaire and Trump’s adviser Elon Musk admitted to using.
In December last year, Musk, known as “Ozempic Santa,” posted a photo of himself in front of a beautifully decorated Christmas tree, dressed as Santa Claus but without his usual large belly, on X. He said, “Like Cocaine Bear, but Santa and Ozempic!” Musk later clarified in another post that he’s using the Mounjaro brand-name version, but joked that “the awkward moniker didn’t have the same ring to it.”
According to a report by the Daily Mail, British pharmaceutical leaders are particularly concerned that such measures could not only impact availability but also drive up the cost of these breakthrough obesity treatments.
What experts said about weight loss jabs
Experts told the Daily Mail that patients could “end up the casualties of a global trade war” and urged the UK Government to “closely monitor” the situation.
Malcolm Harrison, chief of the Company Chemists’ Association (representing chains like Boots and Superdrug), was quoted as saying that the new tariffs could disrupt weight jab supplies.
“Global medicines supply chains are complex… We urge the government to closely monitor the situation.”
British industry leaders fear this could affect the supply and cost of blockbuster weight-loss drugs like Mounjaro and Ozempic.
Professor Martin McKee of the London School of Hygiene and Tropical Medicine told The i (British national newspaper) that such tariffs may trigger “chaos”.
“We don’t know how particular drugs… will be impacted… The supply chain is already ‘complex’.”
“This is why trade negotiations take time… decisions on tariffs shouldn’t be made by those who don’t understand them.”
He added, “Manufacturers will now scramble to understand Trump’s changing orders… Anyone claiming to know what will happen is probably deluding themselves… This isn’t a good time to invest in the US.”
RPS president Professor Claire Anderson warned, “Supply chain vulnerabilities… make it harder for patients to access treatment, causing frustration, anxiety and in some cases, harm.”
Eli Lilly, which manufactures Tirzepatide (the active ingredient in Mounjaro) in Ireland — the country’s biggest pharma export to the US — saw its share price drop after Trump’s announcement.
Trump claimed US drug firms with overseas bases would “come rushing back” to avoid new costs.
David Ricks, Eli Lilly CEO, told the BBC the company may “look at the flow of goods” to avoid tariffs.
European pharma group EFPIA — which includes Novo Nordisk (maker of Ozempic and Wegovy) — expressed “strong concerns” about the move.
Some experts believe drugmakers can absorb added costs. Dr Andrew Hill of the University of Liverpool said: “The estimated cost of semaglutide is around £4/month… yet it’s sold at £150–£200/month.”
“Novo Nordisk are making huge profits… over $18 billion in 2024.”
“As a European company, the costs shouldn’t affect exports to the UK.”
Eli Lilly and Novo Nordisk have not commented publicly.
What about the UK and US patients using weight loss jabs?
Around 500,000 NHS patients in the UK and an estimated 15 million people in the US are now using weight loss injections, which can help individuals shed up to 20% of their body weight within months. These jabs have also been found to lower the risk of heart attacks and strokes.
However, some users have reported side effects such as constipation, fatigue, headaches, dizziness, and hair loss.
According to official guidelines, these medications should only be prescribed to individuals with a BMI over 35 and at least one related health issue (like high blood pressure), or those with a BMI between 30 and 34.9 who qualify for referral to a specialist weight management service, the Daily Mail report said.
In the UK, it is illegal to sell these drugs without a prescription. The Royal Pharmaceutical Society (RPS) previously warned that fraudulent online retailers posing as legitimate pharmacies were targeting vulnerable patients, possibly offering contaminated versions of the drug.
