What's the most painful thing you've been told by your father?

Not directly.

My father told my mother after they split, which was when I was 10, so within a couple of years of that timeframe, that he wants his children to fail because he knows it would hurt her.

So when we talk about bad relationships with fathers, that's what a horrible human being he was.

Can you tell me about your relationship with him? So my father...

I was more of an accomplice than a son, and he left when I was 10.

He basically had midlife crisis, motorcycle, Corvette, 18-year-old girlfriend, and that was, well, procession of 18-year-old girlfriends, which was weird.

When he had said that to your mother, why was that so painful for you? And did you hear it?

How do you see the industry navigating all that and particularly your PBOA members?

It's a challenge.

Yeah, it could be a little rough.

In March, I was asked to give a presentation for Pharma Contract Manufacturing Europe, and they just said, we'd like you to speak on geopolitics and CDMOs.

I said, oh, a nice, easy topic.

Great.

That was a challenge in its way.

Does that feel true to you? And if so, what would you point to? What are the

[audience applauding] There you go, sir.

Thanks.

Hi, everybody.

I am Gil Roth.

I'm the president of the Pharma and Biopharma Outsourcing Association, a trade group that represents CMOs and CDMOs.

So I founded the group in twenty fourteen.

I'll give you a brief introduction here before we get into the craziness of my topic.

So Gil, does that sort of match the picture you're hearing within the industry?

Things are somewhat insane when it comes to US policy and how it's impacting pharma overall and the CDMO sector within it.

Certainly, a lot of the European factors that you talked about are at play.

Coming from a-- coming from an America-centric point of view, which is very unfortunate, a lot of the policies under discussion right now, particularly around tariffs and most favored nation pricing, are intended to impact who's manufacturing what and where.

And very recently, the US Department of Commerce put out a notice on eligibility for getting out from under pharma tariffs under the new administration, Section two thirty-two, pharma sector national security tariffs that really involve multi-s-- multiple steps, starting with demonstrating some form of onshoring of manufacturing of certain drugs.To get from 100% tariff if you're not from a country or region with a trade agreement down to 20% and then negotiate most favored nation to get down to 0%.

But they put out some criteria and clarification for how to qualify for these things that are onerous, to say the least, involving companies having to really declare exactly how much of any product is going to be made in different regions for which markets, what the values are, etc.

While at the same time, at least thanks to some PBOA efforts, including contract manufacturing in the US as one of those onshoring criteria.

What are you hearing from your members about Europe versus US?

But, but getting tho- that news, it kind of is like, "Remember."

Well, I'll tell you, my solution to it [laughs] and this will sound absolutely horrible, um, my solution was getting leukemia.

And what happened there was I went for a physical...

I skipped a physical in 2020 because of, of COVID.

So '21, I went.

Um, they noticed my white blood cell count was kinda high, said, "You might be fighting an infection.

Go get another test." Um, two weeks later, got tested again.

It stares back at you.