Roche chairman still expects diagnostics hit from US tariffs

Core Viewpoint - Roche expects its agreement with the U.S. government to keep its medicines exempt from current import tariffs, but its diagnostics division remains vulnerable to renewed duties after an initial 150-day period [1] Group 1: Pharmaceuticals - Roche's chairman, Severin Schwan, stated that the company assumes its agreement with the U.S. government is binding, ensuring continued exemption from tariffs on medicine imports [1] - The agreement was part of a deal made in December with U.S. President Donald Trump, where nine major pharmaceutical companies agreed to cut medicine prices in exchange for a three-year tariff threat removal [1] Group 2: Diagnostics Division - Roche's diagnostics division generated nearly 14 billion Swiss francs in sales in 2025 and exports a significant portion of its tests and instruments from Switzerland and other European countries to the U.S. [1] - The diagnostics division is significantly affected by import tariffs, especially since products manufactured in the U.S. face tariffs from China, leading to a situation where Roche, as a U.S. net exporter, pays tariffs twice [1] - Schwan anticipates that the U.S. government will impose import tariffs again under a different legal basis after the 150-day limit on tariffs expires [1] Group 3: Company Strategy - Roche has no plans to separate its diagnostics division, with Schwan affirming that it is not a topic of discussion [1]