Caroline's Feed
Oct 1, 2014

Liechtenstein prosecutor confirms Corpbank owner under investigation

ZURICH (Reuters) – Liechtenstein authorities have confirmed that they are investigating the businessman at the center of the crisis that has engulfed Bulgaria’s fourth-biggest bank, citing suspicions of money laundering.

The investigation of Tsvetan Vassilev, who owns a majority stake in Corporate Commercial Bank (Corpbank), was instigated after a Liechtenstein bank submitted information to the authorities, Liechtenstein’s chief public prosecutor told Reuters.

Sep 17, 2014

For Roche CEO, celebrating failure is key to success

LONDON, Sept 17 (Reuters) – Roche Chief Executive
Severin Schwan likes to crack open the champagne with his drug
research teams at the end of a big project – especially when
they fail.

As the boss of one of the world’s most successful
pharmaceutical companies, whose leading position in cancer
treatments has propelled its market value to more than $250
billion, it might seem a strange response.

Sep 16, 2014

Roche’s $8 billion InterMune buy not a signal for more big deals

LONDON (Reuters) – Roche’s (ROG.VX: Quote, Profile, Research, Stock Buzz) decision to buy U.S. biotech company InterMune (ITMN.O: Quote, Profile, Research, Stock Buzz) for $8.3 billion last month was “exceptional” and not a sign of more ambitious plans for major acquisitions, the Swiss drugmaker’ s chief executive said on Tuesday.

Damping down expectations that Roche could embark on a series of such multibillion-dollar deals to bolster its presence in the treatment of rare diseases, Severin Schwan told Reuters there was no change in the company’s M&A strategy or its likely pace of deal-making.

Sep 16, 2014

Switzerland takes on its top drugmakers in price row

ZURICH, Sept 16 (Reuters) – Switzerland, home to the world’s
two biggest drugmakers, might be expected to give them an easy
ride. But Roche and Novartis are finding no
immunity in their home market from a European-wide price
squeeze.

Governments and healthcare authorities around the world are
questioning whether they are getting the best value for money as
they struggle to find space in their budgets to care for an ever
older and sicker population. Their demands that medicine prices
be cut is a growing challenge for drugmakers.

Sep 15, 2014

Danaher to buy Nobel Biocare for $2.2 billion

ZURICH (Reuters) – U.S. healthcare group Danaher Corp (DHR.N: Quote, Profile, Research) is to buy Nobel Biocare Holding AG (NOBN.S: Quote, Profile, Research) for an agreed $2.2 billion to become the world’s biggest player in a dental implants market benefiting from growing demand for cosmetic dentistry.

Danaher said on Monday it would pay 17.10 Swiss francs per Nobel Biocare share in cash, about 23 percent above Nobel Biocare’s closing price on July 28, the day before the Swiss firm said it was in talks with potential buyers.

Sep 15, 2014

Danaher to buy Nobel Biocare Holding for $2.2 billion including debt

By Caroline Copley

ZURICH, Sept 15(Reuters) – U.S. healthcare conglomerate Danaher Corp DHR.N is to buy Nobel Biocare Holding AG NOBN.S for an agreed $2.2 billion, including debt, to expand in the global dental industry.

Danaher said on Monday it would pay 17.10 Swiss francs per Nobel Biocare share in cash, about 23 percent above Nobel Biocare’s closing price on July 28, the day before the Swiss firm said it was in talks with potential buyers.

Sep 15, 2014

Danaher to buy Nobel Biocare for $2.2 bln including debt

ZURICH, Sept 15 (Reuters) – U.S. healthcare conglomerate
Danaher Corp is to buy Nobel Biocare Holding AG
for an agreed $2.2 billion, including debt, to expand in the
global dental industry.

Danaher said on Monday it would pay 17.10 Swiss francs per
Nobel Biocare share in cash, about 23 percent above Nobel
Biocare’s closing price on July 28, the day before the Swiss
firm said it was in talks with potential buyers.

Sep 9, 2014

ABB sweetens shareholders with $4 billion buyback as sets out new strategy

LONDON, Sept 9 (Reuters) – Swiss engineering group ABB ABBN.VX said it would buy back $4 billion (2.48 billion pounds) of shares, offering a sweetener to investors after a series of problems at its power systems unit and in the face of sluggish economic growth.

The Zurich-based firm’s Chief Executive Ulrich Spiesshofer is presenting his new strategy and financial targets exactly one year since taking over from predecessor Joe Hogan.

Sep 9, 2014

ABB woos shareholders with $4 billion buyback, trims sales targets

LONDON, Sept 9 (Reuters) – Swiss engineering group ABB ABBN.VX said it would buy back $4 billion of shares, offering a sweetener to investors after a series of problems at its power systems unit and in the face of sluggish economic growth.

The Zurich-based firm’s Chief Executive Ulrich Spiesshofer is presenting his new strategy and financial targets exactly one year since taking over from predecessor Joe Hogan.

Sep 4, 2014

Ex-Genentech boss Levinson resigns from Roche’s board

ZURICH, Sept 4 (Reuters) – Swiss drugmaker Roche
said on Thursday that Art Levinson had resigned from its board
of directors with immediate effect, in order to avoid any
conflict of interest given his role as chief executive at
Google’s Calico.

The move comes a day after Calico partnered with Roche’s
rival AbbVie Inc to invest in new research
operations for age-related diseases.