Singapore’s Nanyang Biologics to list on Nasdaq amid Trump’s tariffs on pharma imports

“The US administration wants intellectual property owners to manufacture in the US, including drugs,” founder Roland Ong said on Monday.

Nanyang Biologic’s latest initiative reflects its efforts to have its early-stage drug assets licensed to US manufacturers, which was in line with the Trump administration’s goals, while ensuring that US tariff issues would have little impact on the five-year-old start-up.

Proceeds from the Nasdaq listing would be earmarked for expanding the start-up’s technology platform and developing its therapeutic pipeline.

Trump announced last month that brand-name or patented pharmaceutical products would face a 100 per cent tariff, effective on October 1, unless the drug manufacturer was building a production facility in the US.