3 U.S. Pharma Stocks Worth Watching After New Import Tariffs

Tariffs are moving again, and that can quickly change the risk and reward profile for U.S. manufacturers. With new charges on Brazilian and Canadian imports, ongoing levies on metals, autos, timber and semiconductors, and a fresh 100% tariff on many pharmaceuticals, investors are asking which domestic producers might stand to benefit. This article looks at stocks from a U.S. Domestic Manufacturing Stocks screener that are closely exposed to these tariff shifts, and will walk through 3 companies that could be positively affected so you can decide whether they deserve a closer look in your portfolio.

Overview: Ardelyx is a biopharmaceutical company that develops and sells prescription medicines for hard to treat kidney and gastrointestinal conditions, including IBSRELA for irritable bowel syndrome with constipation and XPHOZAH for managing high phosphate levels in adults with chronic kidney disease on dialysis.

Operations: Ardelyx generates about US$427.7 million in revenue from the development and commercialization of its biopharmaceutical products.

Market Cap: US$1.26b

Ardelyx operates at the intersection of domestic drug manufacturing and demand for kidney and IBS treatments, which becomes especially notable with new 100% tariffs on many imported pharmaceuticals potentially improving the relative appeal of U.S.-made therapies. The stock screens as inexpensive on revenue and cash flow estimates, and analysts have identified potential for stronger earnings as IBSRELA and XPHOZAH scale. At the same time, heavy dependence on a small product set and recent reimbursement setbacks for XPHOZAH mean pricing and access remain key considerations. For investors prepared to evaluate that trade off, Ardelyx provides a focused way to gain exposure to U.S. pharma manufacturing as tariff policy shifts.

Ardelyx sits at the crossroads of tariff tailwinds and scaling IBSRELA and XPHOZAH, yet the real story may be how future profitability compares with current expectations in the analyst forecasts for Ardelyx

Overview: Zymeworks is a biotechnology company that designs complex antibody based drugs to treat cancer, inflammatory and autoimmune diseases, with a pipeline that includes bispecific antibodies, antibody drug conjugates and T cell engagers targeting hard to treat tumors and chronic conditions.

Operations: Zymeworks generates about US$81.3 million in revenue from developing next generation multifunctional biotherapeutics, currently reported from Canada.

Market Cap: US$1.72b

Zymeworks gives you exposure to U.S. biologic drug development at a time when 100% tariffs on many imported pharmaceuticals could make domestically produced therapies more competitive. Its capital light model, royalty streams and Theravance acquisition aim to add more recurring cash flow on top of its oncology pipeline. At the same time, the stock is still loss making, heavily reliant on milestone payments and external borrowing, and will need strong execution from a relatively new management team to turn forecast growth and analyst optimism into durable profitability. The combination of tariff tailwinds, a discounted valuation against estimated cash flow and meaningful execution and funding risks makes Zymeworks a stock where the details really matter for long term investors.

Zymeworks is priced as a work in progress, yet royalty streams and oncology assets could be quietly reshaping the story. Get the full picture in the analysis report for Zymeworks

Overview: Legend Biotech is a biopharmaceutical company focused on cell therapies for cancer, led by CARVYKTI (cilta cel) for multiple myeloma and a pipeline of CAR T and CAR NK programs targeting blood cancers and solid tumors across the U.S., China and Europe.

Operations: Legend Biotech generates about US$1.1b in biotechnology revenue, with roughly US$856.9 million from the U.S., US$28.1 million from China and US$254 million from other regions.

Market Cap: US$4.6b

Legend Biotech sits squarely in U.S. pharmaceutical manufacturing at a time when 100% tariffs on imported drugs could make its domestically produced CARVYKTI more attractive. Management has described tariff exposure from Canada, Mexico and China as immaterial and confirmed that key supply comes from the U.S. and Europe. The stock combines fast growing multiple myeloma revenues and an expanding in vivo and off the shelf cell therapy pipeline with early data that has impressed analysts, and a P/S that screens well below many biotech peers. On the other hand, Legend is still loss making, relies on external borrowing and a single flagship product, and recently raised equity, so funding risk and product concentration are real issues that anyone considering the stock needs to weigh carefully.

Legend Biotech’s fast growing multiple myeloma revenue and expanding cell therapy pipeline could be masking a more complex risk reward story, and the full picture only comes into focus in the 3 key rewards and 1 important warning sign

The three stocks in this article are just a starting point, and the full U.S. Domestic Manufacturing Stocks screener has surfaced 46 more companies with equally compelling stories in the U.S. Domestic Manufacturing Stocks screener.

Use Simply Wall St to identify, filter and analyze the specific catalysts and narratives that matter to you so you can focus on the highest conviction ideas across U.S. manufacturers.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data
and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your
financial situation. We aim to bring you long-term focused analysis driven by fundamental data.
Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.
Simply Wall St has no position in any stocks mentioned.

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