Published by Global Banking and Finance Review
Posted on August 14, 2025
ZURICH (Reuters) -Swiss ministers have met with senior executives of pharmaceutical companies Roche and Novartis to discuss the outlook for the sector under current U.S. trade policy, the government said on Thursday.
President Donald Trump has imposed U.S. import tariffs of 39% on Swiss goods, one of the highest rates worldwide, though pharmaceutical firms have so far been spared the duties.
The Trump administration is carrying out a probe into pharmaceutical imports, after which tariffs could follow.
Swiss Interior Minister Elisabeth Baume-Schneider and Economy Minister Guy Parmelin met on Thursday morning with Roche Chairman Severin Schwan and Patrick Horber, head of the international unit for Novartis, the government said.
"The participants of the meeting exchanged their views on the current situation in the pharmaceutical industry against the backdrop of discussions about the tariffs imposed by the United States," the Interior Ministry said in a statement.
What was discussed is confidential, the ministry said, noting that the ministers were organising a roundtable discussion with the pharmaceutical industry in September.
(Writing by Dave Graham. Additional reporting by Ariane Luthi. Editing by Mark Potter)
