The pharmaceutical values of the Swiss Stock Exchange were under pressure on Wednesday, the day after a new threats formulated by US President Donald Trump against the sector. Customs duties could jump to 250%.
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“We are going to, first, put a low customs right on pharmaceutical products, but, in a year, a year and a half maximum, it will be 150% and then it will be 250% because we want drugs made in our country,” said the White House occupant in a CNBC television interview.
These words “are not likely to comfort the Swiss negotiators who have arisen the day before in the United States in the hope of alleviating the 39% customs duties imposed last week,” notes Ipek Ozkardeskaya de Swissquote.
Roche, Novartis: the Pharma sealed by the customs war
At 10:40 am, Novartis heavy goods vehicles (-2.1%) and good rock (-1.4%) were respectively in the ultimate and penultimate positions of a SMI index with 0.17%. The other values in the sector were barely wider, the alcon ophthalmic giant yielding 1.5%, the Lonza 1.0%shader and the mastodon of the 0.7%Sandoz generics.
If the therapeutic products were so far exempt from all customs rights at the entrance to the United States, Lombard Odier analysts underline that those of the European Union are now subject to the 15% granted by Ursula von der Leyen for exports to the country of Uncle Sam.
“Swiss pharmaceutical products remain at the same time excluded from the 39% imposed on Swiss imports” note Alexandra Ralli and Simon Lutier in a comment on Wednesday, however anticipating an upcoming updating on this particular subject.
The threats of surcharge to the importation of drugs are part of the wake of the reactivation of an American president project aimed at aligning the prices of drugs on the least expensive tariffs observed in other industrialized countries (clause of the most favored nation), rebuilt by justice during his previous mandate.