Health & Beauty

Swiss pharmaceutical exports to Russia have surged since the Ukraine issue, according to an analysis by business news agency AWP.

Switzerland’s pharmaceutical exports to Russia have surged since the Ukraine issue, according to an analysis by business news agency AWP, swissinfo.ch reported on July 27.

Since the Ukraine issue on February 24, Russia has been subject to a series of sanctions by various countries. Switzerland follows EU sanctions, but medicines are excluded for humanitarian reasons.

Swiss pharmaceutical companies such as Roche and Novartis have benefited a lot. Analysis shows that from March to June 2022, the sales revenue of Swiss pharmaceutical companies in Russia exceeded 720 million Swiss francs, of which, in June, it exceeded 330 million Swiss francs, which was twice and a half of the same period last year, a record high.

In June 2022, due to the surge in pharmaceutical exports, Switzerland's total exports of goods to Russia reached a new high of 430 million Swiss francs, the highest level since 1992, of which pharmaceutical product exports accounted for more than 80%. In contrast, Swiss pharmaceutical exports to Ukraine have fallen. In the first half of 2022, Switzerland’s exports to Ukraine totaled 91 million Swiss francs, a year-on-year decrease of 20%, of which pharmaceutical exports fell by more than 40%.