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Schwan identified protectionism by \u200bthe United \u200cStates and China as the firm’s biggest \u200bgeopolitical worry. <\/p>\n
Keystone-SDA <\/p>\n
The Swiss pharmaceutical company Roche is increasingly concerned by protectionism in the United States and China. At the Swiss Economic Forum (SEF) in Interlaken on Thursday, Roche Chair Severin Schwan hit out at \u200cUS tariff policies, likening \u200cthem to “blackmail”.\n<\/p>\n
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June 5, 2026 – 09:28\n<\/p>\n
+ Get the most important news from Switzerland in your inbox<\/a><\/p>\n \u201cOur main concern at the moment is the rise of protectionism in our most important markets, the United States and China\u201d, said Schwan at the Swiss Economic Forum (SEF) in Interlaken.<\/p>\n The US and China are using their dominant market positions to ensure that value creation takes place within their respective countries. \u201cThis is completely disrupting our structures,\u201d he said.<\/p>\n In December 2025, Roche and Novartis, along with other global pharmaceutical giants, reached an agreement with the US government. This obliges Roche subsidiary Genentech, for example, to lower the prices of certain pharmaceutical products. <\/p>\n \n More<\/p>\n More <\/p>\n Medicine access\n <\/p>\n Drugmakers reassess Europe as Trump overhauls drug-pricing rules <\/p>\n This content was published on <\/p>\n Mar 20, 2026 <\/p>\n President Trump\u2019s drug-pricing overhaul has triggered an earthquake in Europe as drugmakers scramble to protect their bottom lines. <\/p>\n <\/p>\n Read more: Drugmakers reassess Europe as Trump overhauls drug-pricing rules Roche has also announced investments of around $50 billion in the US. In return, it has been promised a three-year exemption from customs duties on pharmaceutical products in the US.<\/p>\n Schwan said this agreement is not a real deal, but more akin to blackmail. \u201cIt\u2019s the law of the strongest,\u201d he said.<\/p>\n \n More<\/p>\n More <\/p>\n US imposes 15% tariff on Swiss pharma products <\/p>\n This content was published on <\/p>\n Apr 3, 2026 <\/p>\n American President Donald Trump has announced tariffs of up to 100% on the import of patented medicines into the US. <\/p>\n <\/p>\n Read more: US imposes 15% tariff on Swiss pharma products Faced with the threat of higher US tariffs, Roche acted like many companies in other sectors, he said. <\/p>\n \u201cIn the short term, we have increased our production and exported our products to the United States on a larger scale. In the long term, we must now reorganise our supply chains and become less dependent on politics in our main markets,\u201d he stressed, adding that this will be to the detriment of other countries, including Switzerland.<\/p>\n \n More<\/p>\n More <\/p>\n Drug pricing\n <\/p>\n The art of the deal: what are Trump\u2019s pharma announcements really worth? <\/p>\n This content was published on <\/p>\n Feb 18, 2026 <\/p>\n Big Pharma announced a series of groundbreaking agreements with the White House in 2025. But how much of it is just for show? <\/p>\n![\"Trump](\"https:\/\/www.europesays.com\/ch\/wp-content\/uploads\/2026\/05\/681776029_highres.jpg\")
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