The Swiss pharmaceutical company Roche is increasingly concerned by protectionism in the United States and China. At the Swiss Economic Forum (SEF) in Interlaken on Thursday, Roche Chair Severin Schwan hit out at ‌US tariff policies, likening ‌them to “blackmail”. + Get the most important news from Switzerland in your inbox “Our main concern at the moment is the rise of protectionism in our most important markets, the United States and China”, said Schwan at the Swiss Economic Forum (SEF) in Interlaken. The US and China are using their dominant market positions to ensure that value creation takes place within their respective countries. “This is completely disrupting our structures,” he said. In December 2025, Roche and Novartis, along with other global pharmaceutical giants, reached an agreement with the US government. This obliges Roche subsidiary Genentech, for example, to lower the prices of certain pharmaceutical products. Roche has also announced investments of around $50 …