The chairman of Swiss pharmaceutical giant Roche indicated Saturday that while the company’s drug products should stay protected from US import duties under a recent government agreement, its diagnostics operations continue facing tariff challenges.
Severin Schwan told the Swiss publication Neue Zuercher Zeitung that Roche was among nine major drug manufacturers that struck a December deal with President Donald Trump, agreeing to reduce medication prices in exchange for three-year tariff protection.
“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 stated in the interview.
However, he emphasized ongoing concerns about another major part of the business: “But our diagnostics business continues to be significantly affected.”
According to Schwan, Roche’s diagnostics arm – which brought in nearly 14 billion Swiss francs in revenue during 2025 – ships substantial quantities of testing equipment and instruments from Switzerland and other European locations to American markets.
The company also manufactures diagnostic products within the United States that face import duties from China, creating a complex tariff situation.
“But because China has introduced retaliatory tariffs, we end up, as a U.S. net exporter, paying tariffs twice. That’s absurd,” Schwan explained.
The chairman anticipates Washington will reimpose import duties through alternative legal mechanisms once the current 150-day tariff suspension concludes.
Despite these trade challenges, Schwan dismissed any possibility of separating the diagnostics unit from the main company. “That is not a topic at all. We are sticking with it,” he assured the newspaper.
