Trump drug price plan could nix investment, warns Roche / Photo: © AFP
-
TikTok launches crowd-sourced debunking tool in US
-
'Ours forever': would-be Israeli settlers march on Gaza
-
Trump punishes Brazil with tariffs, sanctions over trial of ally Bolsonaro
-
US sprinter Kerley out of US trials
-
Ukraine will fix anti-graft law, minister tells AFP ahead of crucial vote
-
Tata Motors to buy Italy's Iveco for $4.4 bn
-
From skies over Gaza, Jordanian crew drops lifeline to civilians
-
US Fed holds firm against Trump pressure as divisions emerge
-
Michael Jackson's dirty sock sells for over $8,000 in France
-
Turkish city calls for help after heat tops 50C
-
Renault names Provost CEO after De Meo exit
-
Le Court makes history for Africa at women's Tour de France
-
Canada central bank holds rate steady citing US tariff 'threats'
-
Henry puts New Zealand in control of 1st Test against Zimbabwe
-
Stocks edge higher, dollar gains before tech earnings, Fed decision
-
Palestine Action wins bid to challenge terror ban in London court
-
EU urged to act on forests' faltering absorption of carbon
-
India secures return of ancient Buddhist gems
-
Stokes braced for 'emotional' tribute to late England batsman Thorpe
-
France's Luc Besson resurrects new 'romantic' Dracula
-
Trump hits India with 25% tariff and 'penalty' over Russia ties
-
Chinese sub discovers deepest-ever creatures 10 km undersea
-
Kingscote revels in being the 'villain' of Sussex Stakes shock
-
English cricket chiefs confirm sale of six Hundred franchises
-
Wirtz opens Liverpool account in friendly win in Japan
-
Marchand shatters record as US, Australia win more world gold
-
Thousands honour Ozzy Osbourne at UK hometown funeral procession
-
WHO chief says continuous medical aid into Gaza 'critical'
-
London court rules oligarch liable in $1.9 bn Ukraine loan scheme
-
England's Stokes out of India series decider with shoulder injury
-
Stocks diverge, dollar gains before tech earnings, Fed decision
-
India's Gill says Oval groundsman caused 'unnecessary' row
-
Physicists still divided about quantum world, 100 years on
-
Russia relieved as tsunami spares far east from major damage
-
'Can't believe it': Marchand shatters long-standing world record
-
French govt prepares new law to return colonial-era art
-
London court rules oligarch liable over $1.9 bn Ukraine loan scheme
-
Olympic biathlon champion confirmed dead after Pakistan mountaineering accident
-
German biathlete confirmed dead after accident on Pakistan mountain
-
Marchand smashes long-standing 200m medley world record
-
US economy returns to growth in second quarter on tariff turbulence
-
'All gone': Beijing villagers left with nothing after deadly floods
-
Aston Martin pares outlook as US tariffs weigh
-
Adidas says may hike US prices after tariff cost warning
-
GSK reports improved outlook despite US drug tariffs
-
Olympic champ Pan crashes out again in second worlds flop
-
Thai family mourns soldier son killed just before truce
-
Zimbabwe's Taylor to return after corruption and drugs ban
-
'Whirlwind' as Australia's O'Callaghan romps to 200m world gold
-
Portugal gains control of some wildfires
NYSE - LSE
| RBGPF | -4.75% | 74.03 | $ | |
| RYCEF | -2.14% | 13.1 | $ | |
| CMSC | -0.04% | 22.6 | $ | |
| NGG | -0.47% | 70.19 | $ | |
| SCU | 0% | 12.72 | $ | |
| AZN | 3.41% | 76.59 | $ | |
| RELX | -0.27% | 51.78 | $ | |
| GSK | 3.34% | 38.97 | $ | |
| RIO | -4.67% | 59.49 | $ | |
| BTI | 0.73% | 53.16 | $ | |
| BP | -2.2% | 32.25 | $ | |
| BCC | -1.47% | 84.89 | $ | |
| VOD | -0.45% | 11.06 | $ | |
| JRI | 0.38% | 13.11 | $ | |
| CMSD | -0.26% | 23.06 | $ | |
| BCE | -0.55% | 23.53 | $ | |
| SCS | -1.74% | 10.33 | $ |
Trump drug price plan could nix investment, warns Roche
President Donald Trump's plans to dramatically slash drug prices for Americans could make Swiss pharmaceutical giant Roche cancel major investments in the United States, it said Wednesday.
Trump signed an executive order Monday aimed at bringing down the notoriously high prescription drug prices paid by US consumers, news that rattled pharmaceutical companies.
Swiss newspaper NZZ reported Trump's move could lead Roche to reassess plans it announced just last month to invest $50 billion in the United States over five years.
Roche, the world leader in cancer treatments, said in a statement it did not expect Trump's new drugs policy to hurt its business in 2025.
"However, should the proposed EO (executive order) go into effect, Roche's ability to fund the significant investments previously announced in the US will be in question," it said.
Trump has been pushing foreign firms to invest more in the United States, saying the way to avoid his tariff assault on foreign-made goods is to produce them on US soil instead.
Prescription drugs were not targeted in Trump's "Liberation Day" tariff announcements.
Still, Roche appeared to take heed with its April investment announcement, which came just after fellow Swiss rival Novartis said it would increase investment in the United States by $23 billion over five years.
The United States is a key market for Roche, accounting for more than half its pharmaceutical division's revenues.
Roche's US subsidiary Genentech announced a $700-million project Monday to build a new plant in North Carolina, which it says would employ 400 people.
F.Fehr--VB
