Finance
Roche chairman still expects diagnostics hit from US tariffs
Published by Global Banking & Finance Review®
Posted on March 7, 2026
2 min readLast updated: March 7, 2026
Quick Summary
Roche expects its U.S. agreement to spare its pharmaceutical imports from tariffs, but its diagnostics division remains vulnerable after the initial 150‑day tariff pause expires—potentially facing renewed duties on imports.
Roche Chairman Warns of US Tariffs Impact on Diagnostics Business
Roche’s Position on US Tariffs and Diagnostics Division Exposure
Pharmaceuticals Remain Exempt from Tariffs
ZURICH, March 7 (Reuters) - Roche expects its agreement with the U.S. government will keep its medicines exempt from the current round of import tariffs, but its diagnostics division remains exposed and could face renewed duties after an initial 150-day period, Chairman Severin Schwan said on Saturday.
Roche was one of nine major pharmaceutical companies that agreed a deal with U.S. President Donald Trump in December to cut the prices of their medicines in return for removing the threat of tariffs for three years.
"As far as pharmaceuticals are concerned, we assume our agreement with the government is binding and that we will continue to be exempt from tariffs on the import of medicines," Schwan told Swiss newspaper Neue Zuercher Zeitung.
Diagnostics Division Faces Tariff Challenges
"But our diagnostics business continues to be significantly affected," he added.
Export and Production Dynamics
Roche's diagnostics division, which generated sales of nearly 14 billion Swiss francs in 2025, exported a large share of its tests and instruments from Switzerland and other European countries to the United States, Schwan said.
Roche also produced diagnostics products in the U.S., which faced import tariffs from China, he said.
Double Tariff Burden
"But because China has introduced retaliatory tariffs, we end up, as a U.S. net exporter, paying tariffs twice. That's absurd," he said.
Future Outlook and Company Strategy
Expectations for Future Tariffs
Schwan said he expected the U.S. government to impose import tariffs again under a different legal basis after the 150-day limit on tariffs expires.
Commitment to Diagnostics Division
Roche had no plans to split off its diagnostics division, he said. "That is not a topic at all. We are sticking with it," he told the newspaper.
(Reporting by John RevillEditing by Tomasz Janowski)
Key Takeaways
- •Pharmaceutical products remain exempt under Roche’s December U.S. agreement, but diagnostics imports could again be subject to tariffs after the 150‑day window ends.
- •Roche’s diagnostics division generated nearly CHF 14 billion in sales in 2025, with significant exports from Europe to the U.S., leaving it exposed to duties.
- •To counter tariff risks, Roche has committed to a $50 billion investment in U.S. manufacturing and R&D over five years—aiming to insulate both its pharma and diagnostics operations from import levies.
Frequently Asked Questions about Roche chairman still expects diagnostics hit from US tariffs
1Is Roche's pharmaceutical division affected by current US import tariffs?
No, Roche's pharmaceutical division is exempt from current US import tariffs due to an agreement with the US government.
2Will Roche's diagnostics division face US tariffs?
Yes, Roche's diagnostics division remains exposed and could face renewed import tariffs after an initial 150-day period.
3What is the impact of Chinese tariffs on Roche's diagnostics products?
Roche diagnostics products produced in the US and exported to China face Chinese retaliatory tariffs, causing Roche to pay tariffs twice as a net exporter.
4Does Roche plan to separate its diagnostics division?
No, Roche has no plans to split off its diagnostics division and intends to keep the business.
5How much did Roche's diagnostics division generate in sales?
Roche's diagnostics division generated nearly 14 billion Swiss francs in 2025.
