Swiss pharmaceutical companies are planning massive investments in research and manufacturing in the United States as part of a deal to secure lower tariffs. But this isn’t the only force fuelling anxiety about the future of Switzerland’s pharma dominance. The Swiss pharmaceutical sector had reason to celebrate on Friday when the government announced a trade deal with the US that brings tariffs from 39% to 15%. The deal also excludes medicine from tariffs for the time being. The tariff rate on pharmaceutical goods will also be capped at 15% if Trump seeks to impose levies on additional sectors. This is much lower than the 200% on branded drugs US President Trump had threatened over the summer. Novartis, Roche plan US moves The tariff deal, which isn’t finalised yet, came about thanks in large part to huge investment pledges by Swiss pharmaceutical giants Roche and Novartis. These amount to a combined $73 billion (CHF58 billion) over the next five years with the aim to produce all …