Caroline's Feed
Mar 25, 2014

Julius Baer raises stake in Brazilian wealth manager GPS

ZURICH (Reuters) – Swiss bank Julius Baer (BAER.VX: Quote, Profile, Research, Stock Buzz) has raised its bet on Latin America’s largest wealth management market, buying a majority stake in Brazil’s GPS for an estimated 100 million Swiss francs ($113 million), as part of a drive to expand abroad.

The deal underscores Zurich-based Baer’s commitment to gaining greater access to markets in Asia and South America as a crackdown on tax evasion hits private banking, which provides tailored services to wealthy individuals, in Switzerland.

Mar 20, 2014

Quality woes point to generic drugs shake-out: Novartis

BASEL, Switzerland (Reuters) – Recent manufacturing problems in India suggest some makers of generic drugs will struggle to compete in the face of a rising quality bar, pointing to a likely a shake-out in the low-cost sector, according to Novartis (NOVN.VX: Quote, Profile, Research).

Chief Executive Joe Jimenez said the Swiss group’s Sandoz unit – a world leader in making cheap off-patent medicines – was well placed to thrive in an era of tougher standards. Others, however, would not be able to upgrade and stay competitive.

Mar 20, 2014

Indian quality woes point to generic drugs shake-out – Novartis

BASEL, Switzerland, March 20 (Reuters) – Recent
manufacturing problems in India suggest some makers of generic
drugs will struggle to compete in the face of a rising quality
bar, pointing to a likely a shake-out in the low-cost sector,
according to Novartis.

Chief Executive Joe Jimenez said the Swiss group’s Sandoz
unit – a world leader in making cheap off-patent medicines – was
well placed to thrive in an era of tougher standards. Others,
however, would not be able to upgrade and stay competitive.

Mar 20, 2014

Novartis CEO reshapes drugmaker for ‘brutal’ new world

BASEL, Switzerland (Reuters) – Novartis Chief Executive Joe Jimenez is taking a hard look at the drugmaker’s smaller businesses as he reshapes the company for what he expects to be a “brutal” new era in healthcare spending.

At least one of the three sub-scale units – animal health, vaccines and over-the-counter medicines – is not expected to make the cut, he told Reuters in the clearest indication yet of how the review is progressing.

Mar 13, 2014

More firms weigh IPOs as biotech fever reaches Europe

LONDON/ZURICH, March 13 (Reuters) – Biotech fever is
spreading to Europe from the United States with a successful
stock market debut for a cat allergy company in Britain seen as
a bellwether that could help unlock listings in other countries
including Switzerland and France.

Top candidates for a share sale include Swiss firms AC
Immune and Molecular Partners, which are both weighing up a
possible initial public offering (IPO), according to people
familiar with the companies.

Mar 12, 2014

Novimmune appoints former Actelion manager as new CFO

ZURICH, March 12 (Reuters) – Privately-held Swiss biotech
company Novimmune, has appointed former Actelion
CFO Andrew Oakley as its new finance chief, increasing
expectations that the company will go public.

Oakley, a UK and Australian citizen who was chief financial
officer of Actelion for a decade, stepped down from the company
last August. He will take up his new role with immediate effect,
Novimmune said.

Mar 12, 2014

Adecco sees rising demand for temporary staff in Europe

ZURICH, March 12 (Reuters) – A nascent economic recovery in
Europe helped Adecco, the world’s largest staffing
agency by sales, beat fourth-quarter profit forecasts and
increase revenue for the first time in seven quarters.

Staffing companies benefit from moderate economic growth as
firms tend to hire temporary workers at the start of a recovery
when they are reluctant to commit to full-time hiring.

Mar 4, 2014

At Roche, ex-airline boss Franz promises continuity

BASEL (Reuters) – Outgoing Lufthansa (LHAG.DE: Quote, Profile, Research) boss Christoph Franz vowed to keep Roche (ROG.VX: Quote, Profile, Research) on its current course after shareholders overwhelmingly elected him as chairman of the Swiss drugmaker.

The 53-year-old is taking over as non-executive chairman of the world’s largest drugmaker by market capitalisation from Franz Humer who is stepping down after 16 years as CEO and chairman.

Mar 4, 2014

New Roche chairman promises continuity

BASEL (Reuters) – Outgoing Lufthansa (LHAG.DE: Quote, Profile, Research, Stock Buzz) boss Christoph Franz vowed to keep Roche (ROG.VX: Quote, Profile, Research, Stock Buzz) on its current course after shareholders overwhelmingly elected him as chairman of the Swiss drugmaker.

The 53-year-old is taking over as non-executive chairman of the world’s largest drugmaker by market capitalization from Franz Humer who is stepping down after 16 years as CEO and chairman.

Mar 3, 2014

New German chairmen change guard at Novartis, Roche

ZURICH, March 3 (Reuters) – When outgoing Lufthansa
chief executive Christoph Franz takes over as chairman
of Swiss drugmaker Roche on Tuesday, it could be the
start of a new era of less-frosty relations with arch-rival
Novartis.

The departure last year of Novartis architect and
CEO-turned-chairman Daniel Vasella marked the first step towards
a thawing-out process. He had upset Roche, the world’s biggest
cancer drug maker, by building up a 6.2 percent stake in the
group between 2001 and 2003, with the aim of merging the two
firms into one Swiss pharma giant.