Swiss Ministers and Big Pharma Brace for U.S. Tariff Impact

Swiss ministers met with senior executives from Roche and Novartis to discuss the potential impact of U.S. import tariffs on pharmaceuticals. While pharmaceuticals currently avoid these tariffs, an ongoing U.S. probe could change that. Confidential discussions were held with further talks planned for September.

Swiss government officials have engaged in pivotal discussions with top executives from Roche and Novartis to examine the future of the pharmaceutical sector amid evolving U.S. trade policies. Currently, pharmaceutical giants are not subjected to the 39% tariffs on Swiss goods imposed by President Trump.

However, this climate of exemption is under scrutiny as the Trump administration investigates pharmaceutical imports, potentially leading to new tariffs. Key Swiss leaders, Interior Minister Elisabeth Baume-Schneider and Economy Minister Guy Parmelin, convened with Roche Chairman Severin Schwan and Novartis executive Patrick Horber for confidential talks.

According to a government statement, the meeting's focus was on navigating the industry's challenges in light of the U.S. trade policies. Looking ahead, the Swiss administration is orchestrating a significant roundtable with the pharmaceutical industry in September to delve deeper into these issues.

(With inputs from agencies.)