Novartis bullish, Roche slumps as Swiss-US tariff risks loom
Swiss ministers will meet pharma giants, including Novartis and Roche, over a 39% US tariff on exports, with drug import duties up to 250% still possible. Novartis earlier announced plans for $23 billion US expansion, while Roche announced $50 billion. Retail sentiment is bullish for Novartis but bearish for Roche. Pharma makes up half of Swiss exports to the US.