ZURICH, Switzerland: Swiss pharmaceutical giant Roche emphasized on September 26 that one of its U.S. units recently broke ground on a new facility, following President Donald Trump's announcement of new pharmaceutical tariffs—measures not intended to affect companies building plants in the United States.
Trump had said a day earlier that, starting October 1, the U.S. would impose a 100 percent tariff on imports of branded or patented pharmaceuticals—except for companies actively constructing manufacturing plants in the country.
A Roche spokesperson highlighted the company's August 25 announcement regarding its Genentech unit's planned facility in Holly Springs, North Carolina, and Roche's $50 billion commitment to U.S. manufacturing and research and development.
Roche and Novartis are Switzerland's two largest pharmaceutical firms, both with substantial U.S. production operations. Novartis, which also made a significant U.S. investment pledge earlier this year, did not immediately respond to a request for comment.
An industry source suggested that, based on initial U.S. indications, the tariffs outlined by Trump on Thursday would likely not apply to the two Swiss companies. Investors appeared largely unfazed, with shares of both Roche and Novartis trading slightly higher early Friday.
The Swiss government said its relevant departments are analysing the potential impact of Trump's tariff measures but noted that specific details were not yet available.
