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Environment

iBIO - Illinois Biotechnology Industry Organization

09/26/2025 | Press release | Distributed by Public on 09/26/2025 09:25

IBIO Statement on Industry Tariffs

by John Conrad| Sep 26, 2025| Policy News

John Conrad, President and CEO of the Illinois Biotechnology Innovation Organization (iBIO) issued the following response regarding proposed 100% import duties on proprietary pharmaceutical products:

"iBIO supports expanding domestic life sciences manufacturing. The pharmaceutical sector has committed over $350 billion toward American production facilities this year.

"Imposing immediate penalty duties on therapeutic products would severely damage emerging enterprises throughout Illinois' biotech sector. These startups represent the core of our state's life sciences industry. Most lack sufficient funding to rapidly build domestic manufacturing operations and depend on third-party manufacturers for their products.

"I have serious concerns that rushed import penalties would undermine scientific advancement and economic expansion within Illinois' biotechnology community. Such measures risk compromising our state's leadership position in life sciences research and would cripple the pioneering work conducted by Illinois biotech firms developing critical therapies for patients."

iBIO - Illinois Biotechnology Industry Organization published this content on September 26, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on September 26, 2025 at 15:25 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]