US ‘strikes price cut deal’ with Swiss pharma giants

US wants price cuts at Roche and Novartis Keystone-SDA

The United States has struck a deal with Swiss pharmaceutical giants Novartis and Roche to lower drug prices, according to media reports.

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The deal is expected to be made public on Friday, Bloomberg reports, citing sources close to the matter.

+ Read how Trump upended the pharma industry

According to the news agency, the agreement could be part of a broader announcement involving other pharmaceutical groups, but the details have not yet been finalised. The aim would be to relieve companies of the threat of customs duties in return for a reduction in the prices of certain drugs.

The discussions are linked to the easing of the trade dispute between Switzerland and the US, after the parties announced a week ago a reduction in customs duties from 39% to 15% on imports from Switzerland retroactive to November 14.

Medicines are excluded from the tariffs, but US President Donald Trump has repeatedly threatened to impose levies and asked pharmaceutical companies to reduce prices.

The two Basel-based groups and the US government declined to comment to Bloomberg. Novartis merely confirmed that discussions are ongoing with the US government and that efforts are being made to find solutions that reduce costs for US patients.

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Genentech, a subsidiary of Roche, also declared its willingness to cooperate, while the White House stressed that this is speculation before an official statement.

Drug prices have long been the subject of political controversy in the US and the two Swiss groups recently announced multi-billion dollar investments in the US.

Adapted from Italian by DeepL/mga

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