Switzerland’s Roche flags U.S. plans after Trump pharma tariff announcement
Switzerland’s Roche (ROG.S) on Friday underlined that one of its U.S. units recently broke ground on a new facility after President Donald Trump announced new pharmaceutical tariffs that were not due to apply to companies building U.S. plants.
Trump said on Thursday the United States will impose a 100% tariff on imports of branded or patented pharmaceutical products from October 1, unless a given pharmaceutical company is building a manufacturing plant in the U.S.
A Roche spokesperson pointed to the August 25 announcement about its Genentech unit’s plans for a facility in Holly Springs, North Carolina, as well as Roche’s $50 billion pledge to invest in U.S. manufacturing and research and development.
Roche and Novartis (NOVN.S) are Switzerland’s two biggest pharmaceutical firms with major U.S. production operations.