Keystone-SDA
The main Swiss pharmaceutical values reacted softly on Monday to the reactivation of a project to regulate drug prices in the country of Uncle Sam.
(Keystone-ATS) Donald Trump has sent letters to the leaders of 17 major laboratories on both sides of the Atlantic, sharing their intention to align medication prices in the United States on the lowest tariffs applied in countries of the Organization for Cooperation and Economic Development (OECD). The occupant of the White House The Enjoints to comply with this commitment by September 29.
“If you refuse to act, we will deploy all the means at our disposal to protect American families against abusive practices in terms of drug prices,” warns the American president.
At 11:35 am, the Rock enjoyment voucher fell from 1.4% to 253.40 francs and the nominative Novartis from 0.3% to 93.89 francs, in the soft belly of a SMI back from 0.43%.
Analysts welcome this new version of an old promise by Donald Trump with skepticism.
“Roche and Novartis harvest 47% respectively and 44% of their income in the United States, and probably an even higher proportion of their surpluses. However, the consequences should prove to be less severe than it seems at first glance, “immediately puts Jean-Philippe Bertschy, for Vontobel.
At Oddo BHF Switzerland, his colleague Arthur Jurus abounds in this direction, recalling that various similar measures were upset by the justice during the first mandate of Donald Trump. “For groups like Roche and Novartis, already under pricing pressure, this second regulatory wave adds a strong political risk, which is difficult to anticipate in valuation models,” underlines the expert.
John Plassard, at Cité Gestion, starts from the principle that the current exemption from customs duties will also prevail for the 39% freshly announced, even if the threat of targeted taxation of non-produced drugs in the United States. “In 2024, imports of Swiss drugs reached $ 18.9 billion, making Switzerland a vital supplier for American hospitals and patients,” said the investment manager of the Geneva establishment.
Arthur Jurus Currency The shortfall induced by a possible establishment of US customs duties from 10 to 15% between 500 and 800 million dollars per year for Novartis and more than 1 billion francs accumulated by 2026 for Roche.
Questioned by AWP during the weekend, the two pharmaceutical multinationals preferred not to take a stand.
