ZURICH/LONDON (Reuters) – Swiss drugmaker Novartis announced a multi-billion dollar revamp on Tuesday, swapping assets with GlaxoSmithKline and selling its animal health arm in a bid to simplify its business and increase its focus on high-margin cancer medicines.
The overhaul is part of a major realignment in the global pharmaceuticals industry as it strives to cope with a clampdown in health spending by cash-strapped governments.
ZURICH, April 17 (Reuters) – Actelion Ltd’s launch
of it new lung drug has got off to a good start and as a result
the Swiss firm might raise its earnings forecast at mid-year, it
said on Thursday after reporting a better than expected
Europe’s biggest biotech drugs company is banking on a
strong ramp-up in sales of the new drug, Opsumit, a treatment
for pulmonary arterial hypertension (PAH), to boost core
earnings in the low single-digit percentage range this year.
ZURICH, April 16 (Reuters) – Syngenta AG, the
world’s largest maker of crop chemicals, expects weak emerging
markets currencies to have a bigger hit on full-year earnings
than previously assumed, it said on Wednesday, as it posted
higher first-quarter sales.
Adverse currency moves knocked 3 percent off quarterly
sales, which rose 2 percent to $4.7 billion, in line with the
average forecast in a Reuters poll.
ZURICH (Reuters) – A strong uptake of new cancer medicines helped Roche (ROG.VX: Quote, Profile, Research, Stock Buzz) to limit a decline in first-quarter sales and the Swiss company confirmed a forecast for higher earnings this year.
Roche Holding AG said currency movements, the loss of exclusivity on chemotherapy drug Xeloda and falling sales of hepatitis medicine Pegasys combined to pull sales down 1 percent.
PARIS/ZURICH, April 10 (Reuters) – France’s competition
authority is investigating drugmakers Roche and
Novartis on suspicion they were involved in
anti-competitive practices in relation to eye disease
treatments, the companies said on Thursday.
This is the second time in as many months that the Swiss
drugmakers have faced regulatory scrutiny over treatments for
wet age-related macular degeneration (AMD)- a leading cause of
blindness among the elderly.
PARIS/ZURICH (Reuters) – Switzerland’s Holcim (HOLN.VX: Quote, Profile, Research, Stock Buzz) unveiled a deal to buy France’s Lafarge (LAFP.PA: Quote, Profile, Research, Stock Buzz) on Monday to create the world’s biggest cement maker, with $44 billion of annual sales, and spark a raft of asset sales worldwide to steer it through antitrust rules.
The partners billed the cement, concrete and aggregates industry’s biggest ever tie-up as a merger of equals, under which Lafarge shareholders receive one Holcim share for every Lafarge held and Holcim investors end up with 53 percent of the group. The merged business will be based in Switzerland and listed in Zurich and Paris.
ZURICH (Reuters) – Credit Suisse has increased the funds it has set aside to settle a U.S. tax dispute and avoid prosecution for helping wealthy Americans to hide cash from the taxman, raising the prospect it may be close to a settlement in the lengthy dispute.
Switzerland’s second-biggest bank also disclosed in its annual report on Thursday it had paid its Chief Executive Brady Dougan 9.8 million francs in 2013, up 26 percent from the previous year, a rise it said was justified by the bank’s performance over the period.
ZURICH (Reuters) – Mila, a Swiss peer-to-peer online marketplace for services ranging from IT support to furniture assembly, expects big European firms to turn to such platforms as a cheap way to improve their customer care.
Austere times and cheap mobile technology have helped kickstart the so-called sharing economy, in which individuals rent out their time and expertise – from lending power tools to making their cars available for hire.
ZURICH/LONDON (Reuters) – Swiss and British regulators stepped up their scrutiny of alleged manipulation of foreign exchange markets on Monday, as watchdogs take a closer look at whether banks have a tight enough grip on the behavior of their traders.
Switzerland’s competition commission WEKO said it opened an investigation into several Swiss, British and U.S. banks over potential collusion to manipulate currency rates.
ZURICH (Reuters) – Novartis has ended a late-stage clinical trial of a chronic heart failure drug early, following strong interim results, giving the Swiss drugmaker a boost after recent setbacks to another heart failure medicine.
The Basel-based firm said on Monday an independent committee had unanimously recommended it close its PARADIGM-HF study ahead of time after results showed patients receiving its LCZ696 drug lived longer without being hospitalized for heart failure than those who were given enalapril, the standard care.