ZURICH, (Reuters) – Roche is losing money in Russia according to Chief Executive Severin Swan in a Tuesday interview. But, Severin Schwan says that Roche will continue to provide medication for Russian patients.

We cannot withhold vital cancer medications from Russian patients. Schwan said to Swiss newspaper TagesAnzeiger: “There is consensus worldwide that drugs are exempted from sanctions.” He added that Russian prices had been fixed and that the drug giant was losing money due to Russian sales.

Other pharmaceutical companies have also made similar statements, stating that they would supply vital medicines to Russia and will suspend any other activities as a result of Russia’s invasion.

He said that Roche employs 800 Russian salespeople.

Talking about his imminent exit from the board at a large bank Credit Suisse (SIX.) Schwan claimed that although he was open to resignation from a year back, he felt it was the right time after an array of scandals at the bank’s last March.

According to the former vice-chair, Axel Lehmann said that the bank is now “in good hands”.

Schwan replied that Credit Suisse would be independent if it was taken over by a Swiss competitor UBS.

It would be devastating for Switzerland to have only one bank of this size. “That’s why it is important that CS stabilizes its business and rebuilds trust to seize its opportunities.” he stated.

He stated that he was open to taking on another role as a board member in the future.

“In principle it would be possible for me to serve on the board at a bank along with my position as Roche CEO,” he stated.

The fact that I am stepping down doesn’t mean I think that it is not important that an active CEO take over such a responsibility. Banks are the engine of the machine. We need Swiss banks for certain items.