Caroline's Feed
Jul 22, 2013

Roche takes its hunt for a new chairman further afield

ZURICH, July 22 (Reuters) – Swiss drugmaker Roche
faces the prospect of hiring an outsider to replace its chairman
of 16 years after its most suitable board members turned down
the job.

The 117-year old company – the world’s largest maker of
cancer drugs – set itself an autumn deadline to find a successor
to Franz Humer, an influential, hands-on former Roche chief
executive who says he will not stand for re-election next year.

Jul 18, 2013

Actelion raises profit forecast as cost cuts kick in

ZURICH, July 18 (Reuters) – Actelion, the Swiss
drugmaker which relies on sales of its treatment for a rare lung
disease, raised its full-year profit forecast on Thursday on
cost-savings and better-than-expected sales of its mainstay

Europe’s largest biotech company said it expected core
earnings to cross into the double-digit percentage range for
2013, up from a previous guidance of stable core earnings, after
cost savings kicked in quicker than expected.

Jul 17, 2013

Novartis lifts full-year outlook after competition delay

ZURICH, July 17 (Reuters) – Novartis raised its
full-year outlook on Wednesday after generic competition to its
best-selling blood pressure pill was delayed, granting the Swiss
drugmaker a temporary reprieve from patent losses.

The Basel-based firm lost its patent rights on Diovan in the
United States last year and faced competition from a copycat
version of its monotherapy from Ranbaxy Laboratories.
But the lab has so far failed to get a green light for
production from U.S. regulators.

Jul 14, 2013

Alexion valuation could choke any Roche bid

ZURICH (Reuters) – Buying Alexion Pharmaceuticals Inc (ALXN.O: Quote, Profile, Research, Stock Buzz) would help Roche (ROG.VX: Quote, Profile, Research, Stock Buzz) make a splash in the newly lucrative area of rare or so-called orphan diseases, but it could command a price that the Swiss drug maker is ultimately not willing to pay.

Two people familiar with the matter have told Reuters that the Basel-based firm is seeking financing for a potential bid for Alexion, which specializes in the treatment of rare diseases.

Jul 8, 2013

Europe floods to cost insurers up to $4.5 billion -Swiss Re

ZURICH, July 8 (Reuters) – Floods in central Europe last
month may cost insurance companies $3.5-4.5 billion, only half
of one previous estimate but more than was paid out for the last
major washout in 2002, the world’s second biggest reinsurer said
on Monday.

The forecast from Swiss Re compares to an earlier
warning from a damage modelling agency that losses could top $8
billion. That, and its estimate of a $300 million hit for its
own results, saw shares in Swiss Re and some other sector firms

Jun 3, 2013

Dental pioneer Nobel Biocare seeks way back to sales success

ZURICH, June 3 (Reuters) – When Swede Goesta Larsson died in
2006, the titanium screw-in teeth put in his mouth more than 40
years earlier were still in good working order.

Now, Nobel Biocare Holding AG – the firm that grew
from that first implant system – is trying to regain its initial
success after seeing its profits and image hit in recent years.

May 30, 2013

Swiss firm ABB says no more need for electric bus power lines

ZURICH, May 30 (Reuters) – Swiss firm ABB has
developed technology that can charge a full-sized electric bus
during ordinary stops, removing the need for overhead lines in
major cities it believes will turn away from traditional engines
in the battle with pollution.

Claes Rytoft, acting chief technology officer at ABB, said
the new system takes only 15 seconds to charge a bus carrying
135 people with enough power to reach the next stop and fully
charges the battery in just 3-4 minutes at the end of the line.

May 24, 2013

Swiss tax diplomat to quit as US, Europe talks heat up

ZURICH, May 24 (Reuters) – Switzerland’s top tax diplomat
will step down at the end of August, the finance ministry said
on Friday, as talks with foreign governments eager to crack down
on funds hidden in Swiss bank accounts enter a critical phase.

Michael Ambuehl, state secretary for international financial
matters since 2010, will take up a job in September at Zurich’s
Technical University (ETH) as professor of negotiation and
conflict management, the ministry said.

May 22, 2013

Swiss billionaires buy Merck Serono HQ for biotech campus

ZURICH (Reuters) – Swiss billionaire Ernesto Bertarelli has bought back the Geneva headquarters of his former biotech firm Serono, hoping to establish a biotech research campus.

After selling the family business to German drugmaker Merck KGaA for $13.3 billion in 2006, the Harvard Business School graduate went on to win the America’s Cup sailing prize for the second time.

May 17, 2013

Swiss propose corporate tax reforms after EU pressure

BERNE, May 16 (Reuters) – Switzerland outlined plans on
Friday to reform the way it taxes companies as it seeks to
counter criticism from Brussels while trying to remain
attractive to the many multinationals based in the country.

The Swiss have lured thousands of foreign companies
including online retailer eBay and trading giant
Glencore by taxing foreign profits at a lower rate than
domestic earnings, a practice known as “ring fencing”.