A draft order obtained by STAT indicates the Trump administration is preparing 100% tariffs on imports of patented medications and their active ingredients, with timing potentially as soon as Thursday. The proposal targets both branded products and the underlying actives used to manufacture them. The immediate implication for biotech is direct input-cost risk for companies dependent on imported APIs, contract manufacturing, or complex cross-border supply chains. Even where drug pricing is managed through rebates and negotiated formularies, tariff-driven changes can ripple into development budgets and near-term gross-to-net economics. Stakeholders are likely to weigh mitigation options such as supply-chain redesign, alternative sourcing, and re-evaluating contract structures with CMOs and raw-material suppliers. While details may change before announcement, the move—if finalized—would be a regulatory-economics story with immediate operational impact for drug developers and manufacturers.