Pharma Tariffs Hit 100% with Major Loopholes; Gilead's $3.15B Tubulis ADC Deal

100% tariffs on branded drug imports took effect — but thecarve-outs may matter more than the rate. Gilead acquires ADC maker Tubulis for $3.15B upfront (up to $5B), Merck launches its $6B Terns tender offer after cutting the bid by $1B on data concerns, and Novo Nordisk rolls out Wegovy HD7.2mg nationwide. Plus FDA Commissioner Makary's FY2027 budget proposals and Corbus secures its CRB-701 registration path.Visit us at www.thepharmacloseout.compharma, pharmaceutical, FDA, clinical trials, biotech, drugapprovals, healthcare, pharma podcast, The Pharma Closeout, pharma tariffs, Section 232, Gilead, Tubulis, ADC, antibody-drug conjugate, Merck, Terns Pharmaceuticals, Novo Nordisk, Wegovy HD, semaglutide, obesity, Amgen, Tepezza, teprotumumab, thyroid eye disease, Sanofi, lunsekimig, bispecific antibody, FDA budget, GeneriPreCheck, Corbus Pharmaceuticals, CRB-701, Nectin-4, AbbVie, Humira, TrumpRx, Neurocrine, Soleno, Prader-Willi syndrome, Travere, FILSPARI, FSGS, Roche, AstraZeneca