Pedersen LONDON/COPENHAGEN (Reuters) -Obesity drugmaker Novo Nordisk's CFO said on Wednesday he was sceptical that U.S. President Donald Trump's executive order to reduce the time it takes to approve pharmaceutical plants in the country will significantly change timelines for the pharma industry.

The executive order adds on to Trump’s planned tariffs on pharmaceuticals in his overall strategy to onshore production of medicines. At the White House event, Trump told reporters that he will announce pharmaceutical-specific tariffs in the next two weeks.

President Donald Trump signed an executive order to incentivize drug manufacturing in the U.S. The order comes ahead of Trump's planned tariffs on pharmaceuticals imported into the U.S. U.S. production in the pharmaceutical industry has shrunk significantly in recent decades due to lower costs for labor and other parts of the process in countries like China and some European nations.