Feb 1, 2017

This Swiss drug company isn't worried about Trump

Alexandra Wey / AP

Roche Holding AG, the Switzerland-based pharmaceutical company, came away with an 8% higher profit than last year, the equivalent to $9.7 billion, according to WSJ. And even though there will be cheaper alternatives to their cancer drugs available next year, the company plans to release a new line to keep their profits high.

Trump's putting pressure on drug companies to lower their prices, but Roche isn't worried for these reasons:

  • They already offer cheaper versions of their drugs, which has saved them from suffering as much as other pharmaceutical companies.
  • CEO Severin Schwan sees the company's drugs as "true innovation," because they are difficult to replicate or replace with other companies' drugs.
  • He says he already invests "over-proportionally" in the U.S., employing more than 25,000 people, and the U.S. benefits a lot from the industry. (Roche also makes almost half of its revenue in from the U.S.)

Why it matters: This is a good early indication of how the biggest international drug makers are reacting to Trump's latest comments on drug prices.

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What they're saying: "Justice for black Americans in the face of unjust violence, and peace for our country in the face of looting, riots, and domestic terror. Those are the two issues Americans want addressed," McConnell said on the Senate floor.

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Why it matters: It's a stark juxtaposition when compared to fellow Republican President Trump's response to current civil unrest. While Trump has called for justice in Floyd's death, he's also condemned protestors and threatened to deploy military personnel if demonstrations continue.