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Procedures To Apply for Company-Specific Onshoring Agreements To Obtain Tariff Adjustments for Pharmaceuticals and Pharmaceutical Ingredients Under Proclamation 11020

BIS ruleTariff cut or exemptionFederal Register 05/13Open the original

Summary

BIS sets out how pharmaceutical companies can apply for company-specific onshoring agreements under Proclamation 11020. Approved companies pay a reduced Section 232 rate of 20 percent instead of 100 percent on patented drugs, and zero until January 20, 2029, if they also sign MFN pricing deals with HHS. Applications are requested by June 12, 2026.

By industry

Day by day after the announcement

Healthcare & Drug Pricing stocks and the S&P 500 after the announcement, cumulative %
Healthcare & Drug Pricing stocks and the S&P 500 after the announcement, cumulative %
DayHealthcare & Drug Pricing stocksS&P 500
26/05/120.0%0.0%
26/05/13+0.8%+0.8%
26/05/14+1.0%+1.4%
26/05/15−0.2%+0.0%
26/05/18+0.4%+0.3%
26/05/19+1.4%−0.5%
26/05/20+0.7%+0.1%
26/05/21+1.4%+0.8%
26/05/22+2.8%+1.0%
26/05/26+1.4%+1.8%
26/05/27+1.9%+1.8%
26/05/28+2.4%+2.4%
26/05/29+1.4%+2.5%
26/06/01−0.1%+2.6%
26/06/02−0.7%+3.0%
26/06/03−0.2%+1.8%
26/06/04+2.9%+2.5%
26/06/05+4.3%−0.3%
26/06/08+3.8%+0.2%
26/06/09+4.9%−0.2%
26/06/10+4.3%−1.8%

Korean stocks in these industries

  • Samsung Biologics 207940
  • Celltrion 068270
  • SK Biopharmaceuticals 326030
  • Hyundai Steel 004020
  • POSCO Holdings 005490
  • SeAH Steel Holdings 003030

Trades in these industries around the announcement

Members' and insiders' trades in the industries' stocks, 30 days before to 30 days after.

  • Dermot Mark Durcan

    BuyCencora

    $1.1M

    Filed 05/28

  • Lilly Endowment

    SellELI Lilly

    $13.6M

    Filed 05/07

  • Larry Robbins

    SellCVS Health

    $187.3M

    Filed 05/21

  • Keith Harvey

    SellKaiser Aluminum

    $8.2M

    Filed 04/29

  • Larry Robbins

    SellCVS Health

    $74.6M

    Filed 05/21

  • Leon J. Topalian

    SellNucor

    $5M

    Filed 05/19

  • Leon J. Topalian

    SellNucor

    $3.7M

    Filed 05/19

  • Larry Robbins

    SellCVS Health

    $34.6M

    Filed 05/21

  • John Boozman

    BuyUnitedhealth Group

    $1K–$15K

    Reported 07/13

  • Celso L. Goncalves Jr.

    SellCleveland-Cliffs

    $2.9M

    Filed 06/05

  • Patrick Hugh Conway

    SellUnitedhealth Group

    $284K

    Filed 04/27

  • Kathryn E. Wengel

    SellJohnson & Johnson

    $2.4M

    Filed 06/12

  • Lilly Endowment

    SellELI Lilly

    $2.2M

    Filed 05/07

  • Leon J. Topalian

    SellNucor

    $2.1M

    Filed 05/19

  • Larry Robbins

    SellCVS Health

    $14.5M

    Filed 05/21

  • Daniel Patrick O'Day

    Sell10b5-1 planGilead Sciences

    $1.4M

    Filed 06/02

  • David Cordani

    Sell10b5-1 planCigna Group

    $11.9M

    Filed 05/14

  • David Cordani

    Sell10b5-1 planCigna Group

    $11.4M

    Filed 05/14

  • Tommy Tuberville

    Full salePfizer

    $15K–$50K

    Reported 07/16

  • David Cordani

    Sell10b5-1 planCigna Group

    $10.3M

    Filed 05/14