As pharma deals with the impact of NIH grant cuts and what could follow with the imposition of tariffs, Robert Williamson, CEO of Triumvira Immunologics Inc., and Hernan Bazan, CEO of South Rampart Pharma LLC, brought their extensive experience in the industry to the podcast. Their concerns include how tariffs will bring lower margins for U.S. companies, higher costs and eventually drug shortages. They also spoke about the impact on drug development as more than 90% of all drugs are NIH-supported and the challenges private investment faces as it steps in to fill the gap. “What we’re doing by freezing the domestic biotech innovation and supply space, is that … we're gifting China this future leadership in the biotech space with some of these tariffs,” Williamson said.