Pharmaceutical exports in nominal terms increased by 40% since the Ukraine war began. However, export volume increased only slightly. © Keystone / Christian Beutler
Swiss exports of pharmaceuticals to Russia, which are not subject to sanctions, reached a 30-year record last year, buoyed by high prices.
Roche, Novartis and the other Swiss pharma companies brought in CHF2.1 billion ($2.3 billion) from the export of pharmaceuticals to Russia in 2022.
In 2021 the Swiss pharma industry sold drugs worth CHF1.5 billion to Russia. This means sales increased by 40% since Russia invaded Ukraine. This is based on an analysis by the Swiss News Agency Keystone-SDA of foreign trade data released by the Swiss customs office on Tuesday.
In contrast to sales, export volume of