The United States could launch a trade investigation into Switzerland’s pharmaceutical sector similar to the probe initiated last week against Germany, according to the head of Swiss industry body Interpharma.
Washington has opened Section 301 investigations into suspected unfair trade practices against dozens of countries. The probe against Germany was initiated after Berlin announced plans in April for a healthcare system overhaul that includes lower spending on pharmaceutical products.
The investigation could lead to tariff-related action against German imports, though sources said the government is reconsidering the plan after pharmaceutical companies opposed it.
Switzerland is currently reviewing measures to reduce mandatory healthcare prices, which could lower drug prices. The industry has criticized these proposals.
"It is clear that Switzerland is also a potential target in light of the current (health insurance ordinance) revision," Interpharma CEO René Buholzer said in a statement.
Buholzer referenced a letter written by Republican U.S. congressmen this month that urged the U.S. Trade Representative and commerce secretary to open Section 301 investigations into foreign pharmaceutical pricing policies. The lawmakers argued that foreign governments’ spending restrictions unfairly shift the burden of pharmaceutical innovation onto U.S. consumers. They named both Germany and Switzerland as "doubling down on their strategy to free-ride off the United States."
Switzerland hosts major drugmakers including Roche and Novartis. Pharmaceutical and chemical products made up over half of Switzerland’s exports last year.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.