60% of life sciences, health care firms expect impact from tariffs, policy

By Asif Dhar, M.D., Global Consulting Services Life Sciences and Health Care leader, Deloitte Consulting LLP, Jay Bhatt, D.O., managing director of the Deloitte Center for Health Solutions, Deloitte Services LP, Todd Konersmann, principal, Deloitte Consulting LLP

About 60% of life sciences and health care leaders expect tariffs and/or pricing policies to have at least “some impact” on their businesses, according to the Deloitte Center for Health Solutions’ 2025 Tariffs, Pricing, and Taxes Survey. Just one of these factors could require organizations to adjust strategies, but the combination could result in profound operating challenges and transformative changes. Prioritizing both strategic and operational approaches in an integrated fashion, and with agility, could help organizations successfully navigate uncertainty.

Deloitte surveyed 120 health care and life sciences executives worldwide to determine how they are responding to a rapidly shifting business landscape. The survey data suggests that many organizations are moving from awareness to action amid uncertainty. The results, however, also reveal a possible gap in operational action: while many organizations have started scenario-planning and have implemented strategic assessments, only a small percentage appears to be ahead of the curve. Those organizations have already started to enact meaningful and integrated changes at the strategic and operational levels. Operational decisions can have a profound impact on strategy and scenario planning. The survey was conducted in late June 2025, prior to the enactment of the One Big Beautiful Bill Act (OBBBA), which was signed into law on July 4.

Life sciences may be on the cusp of a pivotal moment
As the global regulatory environment grows more complex, some life sciences organizations could be entering a pivotal moment. About two-thirds of surveyed life sciences leaders said they expect current or anticipated tariffs, and/or pricing policies to have a moderate-to-major impact on their long-term commercial planning. The survey data also suggests a disconnect between strategic and operational initiatives.

Strategically, many life sciences and health care organizations appear to have started scenario planning. But some organizations might need to prioritize strengthening operational capabilities in a more robust manner. The companies that are best positioned to thrive in an uncertain environment will likely be those that are able to adapt, restructure themselves, and integrate new capabilities. Those organizations will most likely structure themselves as hyper-adaptive, rapid-learning systems.

Among US-based life sciences and health care companies, Deloitte’s survey found that:

73% of respondents have implemented scenario-planning strategies to help their organizations remain agile and prepared.
64% have taken action to secure their supply chains to ensure resilience during unanticipated global disruptions.
10% have altered their organizational structures, suggesting that most leaders are focusing on operational and strategic adjustments rather than wholesale restructuring.

Four key findings and what they could mean for life sciences
Leaders of life sciences companies can enhance their organization’s adaptability and agility by aligning their strategies with operations across their business. Here is a closer look at some of our survey findings, and their potential implications:

64% of life sciences executives said current or anticipated policies are already influencing their long-term commercial planning.

What it could mean: Commercial functions may no longer be passively monitoring regulatory shifts. Many executives may be actively modeling business scenarios, particularly around pricing and market access. US-based companies are about 20% more likely than their European peers to be running active scenario models, according to the survey data.
60% of companies are maintaining research & development (R&D) funding levels despite evolving policies; 64% are adjusting strategies like clinical-trial geographies or API sourcing.

What it could mean: Innovation might not be slowing down; it might be shifting in shape. Respondents may be selectively rebalancing portfolios and geographies, especially in early-stage development and supply sourcing.
17% of respondents plan to move manufacturing to the US in response to tariffs or regulatory changes. Among those respondents, 62% expect new facilities to be operational within five years.

What it could mean: Some life sciences firms appear to be making investments in US-based production. Companies that are moving are likely using build/buy/re-purpose strategies to create more flexible production capacity.
Beyond products, 50% of respondents said they are evaluating how evolving policies could impact services such as clinical-trial locations, digital-health offerings, and patient-support programs.

What it could mean: Traditional tax and tariff planning are likely to be focused narrowly on physical goods. But services, including digital health, data analytics, and support programs, might need to be reevaluated using a regulatory lens.

Consider an integrated approach
Deloitte’s survey responses indicate that life sciences executives might benefit from an integrated approach that addresses the confluence of tax/tariff/pricing policy and the potential impact on their business.

According to survey results, many life sciences organizations have:

Engaged in high-level scenario planning around supply chain, tax, and corporate structure.
Identified category-level priorities.
Acknowledged the need for action.

But a smaller number of companies have:

Fully executed changes to tax, enterprise resource planning, customs, and legal structures.
Stood up parallel organizational models to reflect multiple potential futures.
Built systems to continuously learn, adapt, and evolve operationally in response to shifting data.

Most decisions are interdependent
Most decisions made at the corporate level are interdependent. Movement in one area typically affects all other areas. It can be difficult for life sciences and health care organizations to improve one area without impacting the others (see chart below). The most effective strategies tend to be those that are regularly updated as new information surfaces and as changes ripple through the ecosystem.

The quantum corporation

In simple terms, quantum physics describes how the universe works at the smallest scale and illustrates that the building-blocks of reality don't always behave as expected.¹ This concept could be applied to the business universe where changes might not affect an organization as expected. For example, a quantum corporation:

Operates in parallel states of readiness.
Builds infrastructure to act on divergent outcomes, rather than just planning for them.
Accepts that there isn’t a linear path to successful outcomes.

To operate like a quantum corporation, executives should look for ways to become hyper-adaptable. Hyper-adaptability is generally characterized by:

Rapid intake of external information
Distributed processing across business units
Fast aggregation of local insights
Real-time feedback loops that drive operating decisions
Continuous updating of both strategic and tactical plans

This involves a shift in organizational design—away from experience-based hierarchy—to learning-based, responsive networks. This is not just contingency planning; it is parallel execution at scale, enabling optionality in real-time.

Rapid learning systems could be an important missing link. This is where the health care and life sciences sectors have a historical advantage—at least in theory. The Institutes of Medicine’s (IOM) “Rapid Learning Health System” model has long argued for this kind of agility.² However, our survey data indicates life science companies might be a long way from achieving it:

Most organizations appear to lack the infrastructure for true continuous learning.
There seems to be too much wait-and-see behavior when it comes to responding to new or changing regulations.
The execution gap on high-priority transformation can be profound.

We appear to be entering an age of exponential complexity, not linear disruption. Organizations that thrive will likely be those that are:

Strategically ambidextrous
Operationally parallelized
Culturally hyper-adaptive

Conclusion
The global economic system, overall, is adjusting to new and evolving trade and pricing norms. For life sciences and health care organizations, preparing for the future involves building the agility and resilience needed to thrive amid ongoing change. By taking proactive steps today, industry leaders can help position their organizations for success, no matter what tomorrow brings.

Acknowledgement: Thanks to Jessica Overman for her efforts in supporting the survey analysis, content development, project management, and marketing efforts.

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60% of life sciences, health care firms expect impact from tariffs, policy

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