President Trump's threat of up to 200% tariffs on generic drugs made outside the U.S. could impact companies like Apotex. The Canadian pharmaceutical company, which recently went public, has seen its stock fall approximately 10% to C$35.72.

The proposed levies are slated to begin at 100% in August 2028 and increase the following year, providing drugmakers with time to adjust manufacturing strategies. This initiative primarily targets generic medicines predominantly manufactured in India and China.

Apotex's manufacturing base is largely in Canada, with additional facilities in Mexico and India. Its two U.S. sites are primarily for warehousing and distribution, along with its U.S. affiliate headquarters.