Swiss pharma’s global success meets worries at home

When Switzerland’s two biggest pharmaceutical companies are doing well, that’s usually a reason to celebrate. Swissinfo journalist Jessica Davis Plüss examines why Swiss politicians and industry leaders are instead calling for urgent reforms to keep the country attractive to pharma. Last year was a good year for Swiss pharma. Roche’s sales rose 7% (at constant exchange rates) to CHF61.5 billion ($79.8 billion), driven by strong demand for drugs for multiple sclerosis, eye diseases and Haemophilia A. With ten new molecules entering late-stage clinical trials, 2025 was “very much a record year for Roche”, said CEO Thomas Schinecker at the company’s annual results media conference in January. Its cross-town rival, Novartis, was also upbeat about 2025, with sales of key brands “well above expectations”, according to its annual report, enough to boost CEO Vas Narasimhan’s compensation by 30%. Even with generic competition expected to dent sales in 2026, Novartis’ US shares were trading ...