Swedish medical technology manufacturer Prostatype Genomics AB (STO:PROGEN) stated on Friday that the proposed 20% US tariffs on goods imported from the European Union will have little to no effect on its US operations.

The company explained that its EU-manufactured laboratory kits represent only a small fraction of the sales price, while all testing, marketing and sales activities are conducted through its wholly owned US subsidiary.

CEO Fredrik Rickman emphasised that Prostatype Genomics is well-established in the United States with a local infrastructure designed to mitigate risks related to tariffs and trade restrictions. The company has secured all necessary regulatory approvals and accreditations for its Prostatype test, which is already in clinical use in the US market.

Prostatype Genomics recently reported positive preliminary results from a US study and is in the final phase of its Medicare reimbursement application. The company expects the United States to become its primary market in 2025.