The 23-year-old, who regained her British title last weekend, delivered a blistering sprint in the home straight to finish in 1min 59.67secs, over four-tenths of a second inside her previous best.
Kenya's Eunice Sum, the world champion who will be one of Sharp's chief rivals for Commonwealth gold in Glasgow, eased to victory to underline her place at the top of the standings.
But Sharp, who has now overtaken Jessica Judd in the UK rankings, now plans to use next week's Diamond League meet at Hampden to fine-tune her preparations for the Games with another look at her main rivals.
"It's really important preparation for Glasgow, to see the track and run on it and see how everything works, but also to go up against all the British girls," she said.
Also in Lausanne, Tyson Gay marked his return after a 12-month ban by coming second in the 100m in 9.93 but the American was beaten by another convicted cheat, Justin Gatlin, whose time of 9.80 was the fastest in world this year.
James Dasaolu's comeback from injury brought him victory in the 100m B race in 10.03 while Olympic 400m champion Kirani James, who will run for Grenada at the Glasgow Games, set the fastest time in seven years (43.74).
Jax Thoirs improved his own Scottish pole vault record to 5.61 at an indoor meet in Grangemouth, while Christine Ohuruogu, who will take part in the 4x400m relay for England at the Games, says she expects to retire after the Rio Olympics.