Pharmaceutical tariffs could come soon; Milwaukee-area pharmacy owner preparing for possible higher costs

CEDERBURG, Wis. (CBS 58) -- As threats of possible tariffs on pharmaceuticals loom, pharmacists around the country are preparing to help their patients navigate potential price increases. 

Nearly all of the United States' generic drugs come from overseas. In a last-minute move on Wednesday, April 9, the Trump administration excluded pharmaceuticals from Wednesday's retaliatory tariffs, giving consumers a break for now. However, President Trump has said more could be on the way. 

"We'll be announcing it soon, but we have to bring pharmaceuticals, drugs and pharmaceuticals back into our country," President Trump said on Friday, April 11. 

“We’re already getting questions at the store about it from our patients," said Kyle Beyer, owner of North Shore Pharmacies. His business has a location in both Cederburg and Shorewood. “Right now, it’s -- we don’t know. A lot of it will depend on which countries will get the tariffs.”

Generic medicines make up nine of 10 prescriptions in the U.S., nearly half of which come from India, which exports about $9 billion in generic drugs to the U.S., according to data last year from the IQVIA Institute for Human Data Science.

Beyer says cost is the number one reason many patients decide not to take a medication. If costs increase from the tariffs, that could be a concern for patients. However, it could also be a concern for his business. 

“Our concern, also, is that costs increase, but reimbursement from insurance companies does not follow. Then we’re in a pinch point here where our sourcing of these medications become a lot more expensive," Beyer said. 

For local pharmacies, Beyer says time is the best doctor as they await more announcements from the Trump administration. 

“For an independent pharmacy like us, these are our patients, our families, families the people we care for," Beyer said.