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.
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
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.
ZURICH, Feb 25 (Reuters) – The world’s largest maker of
dental implants, Straumann Holding Ltd, expects to grab
back market share from low-cost competitors by launching its
cheaper products in more markets this year.
Premium implant makers Straumann and local Swiss rival Nobel
Biocare have faced sluggish demand in Europe, their
main market, as cash-strapped consumers cut back on pricey
dental treatment or trade down to cheaper brands.
ZURICH (Reuters) – Switzerland’s defense minister said it was “unthinkable” that his country’s accords with the European Union would be terminated as result of a referendum to curb immigration, saying threats of retaliation by the bloc were overblown.
Swiss voters this month narrowly backed a proposal to curtail immigration, a move that could violate a free movement of citizens pact with the 28-member bloc that came into force in 2002.
ZURICH (Reuters) – Nestled between the peaks of the Swiss Alps, the Hotel Schweizerhof has provided rooms for weary skiers and hikers for more than a century, profiting like scores of other businesses from Switzerland’s close ties to Europe.
But a shock vote last week to cap all immigration to the landlocked country and introduce quotas for those from the European Union, now threatens to cut the hotel off from the pool of workers on which it relies.
ZURICH, Feb 13 (Reuters) – Swiss engineering group ABB
lowered its target for mid-term sales growth on
Thursday, blaming a slower-than-expected economic recovery and
weaker capital spending by its customers.
The company, which makes products ranging from power grids
for utilities to industrial robots, said sales growth this year
would be challenging as uncertainty in emerging markets, like
China, offset growth in the United States and parts of Europe.
ZURICH, Feb 12 (Reuters) – Days after Switzerland voted to impose new barriers to immigration, the surprise victory of a Russian-born snowboarder nicknamed “I-Pod” at the Olympic Games in Sochi has led to an ironic outpouring of national pride.
Images of 25-year-old Iouri Podladtchikov, who defeated favoured American Shaun White to win gold for Switzerland in the halfpipe, adorned the front pages of Swiss newspapers on Wednesday, jostling for space with headlines on the country’s plans to curtail an influx of foreigners.
ZURICH, Feb 11 (Reuters) – Actelion raised its
full-year guidance on Tuesday and said its new heart and lung
drug had been very well received in the United States, as it
posted full-year profit that beat expectations.
Europe’s largest biotech company has seen its prospects
brighten after regulators in Europe and the United States
approved its big drug hope Opsumit, a treatment for pulmonary
arterial hypertension (PAH), at the end of last year.
ZURICH (Reuters) – Syngenta (SYNN.VX: Quote, Profile, Research, Stock Buzz) is aiming to increase cost-cutting to $1 billion a year by 2018, the world’s No. 1 crop chemicals maker said on Wednesday after disappointing the market with an 11 percent fall in profit for last year.
Earnings were hit by higher seed production costs, a writedown on seed inventories and lower-than-expected sales in crop protection in the fourth quarter, Chief Executive Mike Mack told Reuters.
WINTERTHUR, Switzerland, Feb 4 (Reuters) – Low taxes and
good infrastructure aside, what entrepreneur Thorsten Schwenke
really needs to grow his small Swiss-based business is the right
people, regardless of their nationality.
That’s why he is so bewildered by a vote in Switzerland on
Feb. 9 on whether to impose restrictions on immigrants from the
European Union, and by the proposal’s increasing popularity in a
country where foreign labour helped forge a powerful economy.