President Donald Trump<\/a>‘s global trade reset – on goods such as watches and machinery imported from Switzerland. Swiss pharmaceuticals are currently not subject to that levy.<\/p>\nThe pharma industry is, meanwhile, also awaiting the outcome of a Section 232 national security investigation that could result in tariffs on U.S. drug imports eventually reaching 250%.<\/p>\n
PHARMACEUTICALS: MOST IMPORTANT SWISS EXPORT<\/p>\n
In addition to Roche, Novartis and Sandoz will also send executives to the meeting in Bern with Business Minister Guy Parmelin and Health Minister Elisabeth Baume-Schneider, the government said.<\/p>\n
Roche, Novartis and Sandoz did not immediately respond to requests for comment.<\/p>\n
Other expected participants include representatives from Merck, Johnson & Johnson, and Australian biotech firm CSL, the government said.<\/p>\n
Parmelin, who travelled to Washington earlier this month, has been leading the Swiss response to Trump’s tariffs, though the current tariff negotiations will not be discussed at the meeting, a government spokesperson said.<\/p>\n
Other topics could include drug prices in Switzerland, which the health ministry agrees with companies.<\/p>\n
Pharmaceuticals are by far the most important Swiss export sector to the United States, with shipments worth 32.75 billion Swiss francs ($41.28 billion), making up about half of Swiss exports there last year.<\/p>\n
If the 39% tariff is extended to cover pharmaceuticals, Swiss economic output could fall by more than 1%, according to one estimate.<\/p>\n
Swiss pharma exports to the U.S. have fallen since April after importers stockpiled earlier this year to avoid having to pay any levies.<\/p>\n
Swiss companies, including pharma firms, have already pledged to increase their spending in the United States to reduce the impact of import duties.<\/p>\n
Roche has unveiled plans to invest $50 billion over the next five years in the U.S., creating more than 12,000 new jobs, while Novartis has said it plans to spend $23 billion to build and expand 10 facilities there.<\/p>\n
Novartis wants to make most important products for the American market locally, CEO Vas Narasimhan said in an interview published on Saturday.<\/p>\n
“This should allow us to fully mitigate any tariffs,” he said.<\/p>\n
($1 = 0.7933 Swiss francs)<\/p>\n
(Reporting by John Revill; Editing by Joe Bavier)<\/p>\n","protected":false},"excerpt":{"rendered":"By John Revill ZURICH (Reuters) -Roche Chief Executive Thomas Schinecker and other senior executives from the Swiss pharmaceuticals…\n","protected":false},"author":2,"featured_media":5695,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[124],"tags":[206,4808,593,134,4809,112],"class_list":{"0":"post-5694","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-roche","8":"tag-novartis","9":"tag-pharmaceuticals-industry","10":"tag-president-donald-trump","11":"tag-roche","12":"tag-swiss-companies","13":"tag-tariffs"},"share_on_mastodon":{"url":"","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts\/5694","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=5694"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts\/5694\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/media\/5695"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/media?parent=5694"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/categories?post=5694"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/tags?post=5694"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}