Swiss drugmaker Roche to invest $50B in US as Trump mulls pharma tariffs

Swiss pharmaceutical firm Roche announced on Tuesday that it plans to invest $50 billion in the United States over the next five years, as the U.S. administration signals the potential introduction of significant tariffs on pharmaceutical imports.

The move follows remarks by U.S. President Donald Trump, who warned on April 8 that significant new tariffs on drug imports would be unveiled “very soon,” separate from the reciprocal tariffs previously announced on April 2.

“We’re going to tariff our pharmaceuticals, and once we do that, they’re going to come rushing back into our country because we’re the big market,” Trump said during a dinner meeting with House Republicans.

In a statement, Roche said the planned investment would significantly expand its presence in the U.S., where it already operates 13 manufacturing sites and 15 research and development facilities across its pharmaceutical and diagnostics divisions. The investment is expected to generate more than 12,000 new jobs.

Trump weighs tariffs on imported pharmaceuticals

The company noted that the funds will support capacity expansion at multiple sites, including facilities in Kentucky, Indiana, New Jersey, Oregon, and California.

“Today’s announced investments underscore our long-standing commitment to research, development, and manufacturing in the U.S.,” said Thomas Schinecker, CEO of the Roche Group. “Our investments of $50 billion over the next five years will lay the foundation for our next era of innovation and growth, benefiting patients in the U.S. and around the world.”

Pharmaceutical companies have long benefited from tariff exemptions, which allowed them to base their manufacturing operations in low-tax jurisdictions such as Ireland and Switzerland. By importing their products into the U.S. duty-free, where they earn the majority of their revenue, they have historically enjoyed substantial tax savings.

Further escalating the situation, White House spokesperson Kush Desai announced on April 14 that the U.S. Department of Commerce has initiated investigations into pharmaceutical and semiconductor-related imports. These investigations were reportedly ordered by President Trump in preparation for setting new tariff rates on the respective sectors.