1603 GMT - The results of a U.S. probe into the pharmaceutical sector are imminent, but any potential hits from President Trump's tariffs and drug-price policies seem to be already priced in by Swiss pharma stocks, Vontobel's Stefan Schneider says in a note. Vontobel estimates U.S. drug prices could be cut by between 5% and 33%, but finds that this is already factored into Swiss pharma stock prices. According to Vontobel's analysis, Roche shares could see a movement from 0% in its base-case scenario to a 7% drop in its worst-case scenario, while Novartis shares could either rise or fall by 8%. This means the outcome of the U.S. investigation could also trigger share-price rises as a clearer picture emerges, the analyst says. Shares in Novartis and Roche close 0.9% and 0.4% lower, respectively. (adria.calatayud@wsj.com)
(END) Dow Jones Newswires
August 22, 2025 12:03 ET (16:03 GMT)
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