Donald Trump<\/a>‘s latest pharmaceutical tariff announcement because they are in the process of building new U.S. sites and investing there.<\/p>\nTrump 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.<\/p>\n
A Roche spokesperson pointed to an August 25 announcement that its Genentech unit had broken ground for a facility in Holly Springs, North Carolina, as well as its $50 billion pledge to invest in U.S. manufacturing and research and development.<\/p>\n
Roche and Novartis are Switzerland’s two biggest pharmaceutical firms with major U.S. production operations.<\/p>\n
Novartis, which made a $23 billion U.S. investment pledge earlier this year, said that Trump’s 100% tariff announcement should not have an impact on the company.<\/p>\n
“We have ongoing construction and expect to announce five new sites to be under construction before end of year,” Novartis said.<\/p>\n
Investors appeared to shrug off the news. Shares in both Roche and Novartis traded slightly up early on Friday.<\/p>\n
Wolf von Rotberg, an equity strategist at J. Safra Sarasin Sustainable Asset Management, advised against significantly reducing pharmaceutical investment after Trump’s announcement.<\/p>\n
“If exemptions apply broadly to companies with U.S. production sites, all major U.S. pharmaceutical companies and some European ones would likely be exempt,” he said.<\/p>\n
“Recent spending commitments by large-cap pharmaceutical companies, including major Swiss firms, may be deemed sufficient for exemptions, potentially limiting the tariff’s scope”, he added.<\/p>\n
The Swiss government said the relevant departments are analysing the potential impact of Trump’s pharmaceutical tariff measures but that it did not have details of them.<\/p>\n
(Reporting by Paul Arnold and Dave Graham, editing by Friederike Heine and Thomas Seythal)<\/p>\n","protected":false},"excerpt":{"rendered":"By Paul Arnold ZURICH (Reuters) -Swiss companies Roche and Novartis on Friday flagged they did not expect to…\n","protected":false},"author":2,"featured_media":45861,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[124],"tags":[17543,18,206,26574,134],"class_list":["post-45860","post","type-post","status-publish","format-standard","has-post-thumbnail","category-roche","tag-announcement","tag-donald-trump","tag-novartis","tag-pharmaceutical-products","tag-roche"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@ch\/116369318486890645","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts\/45860","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/comments?post=45860"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts\/45860\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/media\/45861"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/media?parent=45860"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/categories?post=45860"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/tags?post=45860"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}