ZURICH (Reuters) – The European Medicines Agency has thrown Novartis’ loss-making vaccines business a lifeline by recommending its meningitis B shot for approval, which means the pressure is on to make the product a commercial success.
Novartis paid $5.1 billion to gain full control of U.S. vaccine maker Chiron Corp in 2006 in a major bet on vaccines designed to reduce its dependence on prescription drugs ahead of a wave of patent expiries.
ZURICH, Nov 13 (Reuters) – Swiss hearing aid maker Sonova’s
focus on new products helped counter margin pressures
in its industry as the group reported stronger first-half
profits on Tuesday, sending its shares to a seven-month high.
Demand from the growing ranks of the elderly has helped
expand the market for hearing aids, but some of Sonova’s
competitors have warned of margin and pricing pressures partly
from cutbacks in government healthcare budgets.
ZURICH, Nov 8 (Reuters) – Novartis could produce
14 or more new big-selling ‘blockbuster’ drugs within five
years as it bets on cancer, heart and respiratory treatments to
fill the gaps left by expiries on current patents, the Swiss
firm said on Thursday.
Like many of its rivals, Novartis is facing headwinds as
some of its top earners lose patent protection, particularly
blood pressure drug Diovan. It is counting on its newest
products, such as breast cancer drug Afinitor, to pump up sales.
ZURICH, Nov 7 (Reuters) – Green energy from desert solar
farms or alpine dams can at last be sent across continents
thanks to a breakthrough link device that can cross the great
schism of electricity’s history, ABB said on
The Swiss engineering group said it had solved a
100-year-old electrical puzzle with its invention of a
high-voltage direct current (HVDC) circuit breaker.
ZURICH (Reuters) – Adecco (ADEN.VX: Quote, Profile, Research), the world’s biggest staffing group, expects no improvement in Europe’s job markets until late next year because businesses are reluctant to hire due to uncertainty about the euro zone debt crisis.
“It is going to be very slow in Europe into the beginning of next year and if something improves it is going to be in the second half but not before that,” Chief Executive Patrick De Maeseneire told Reuters.
ZURICH, Nov 6 (Reuters) – Adecco, the world’s
largest temporary staffing firm, said revenues fell further in
Europe in the third quarter, dragged down by the region’s
crippling debt crisis.
Temporary employment is considered a bellwether of broader
labour activity because employers add or cut temps before hiring
and firing permanent staff.
ZURICH, Nov 1 (Reuters) – Swiss manufacturing shrank for a
seventh month in a row in October as demand continued to be hit
by the euro zone crisis, although there were signs the outlook
is improving, PMI data showed on Thursday.
The Swiss purchasing managers’ index rose to a seasonally
adjusted 46.1 points in October from 43.6 points in September.
Although the print beat analysts’ forecasts for 44.5 points, it
remained below the 50 mark, which separates growth from
contraction, for the seventh month in a row.
ZURICH (Reuters) – Swiss drugs industry supplier Lonza plans to cut 500 jobs, including 400 at its main plant in southern Switzerland, as it grapples with low-cost competition, a strong Swiss franc and higher raw material prices.
The cuts at the Basel-based firm, which makes pharmaceutical ingredients for drugmakers such as GlaxoSmithKline and Abbott, equate to around 5 percent of its global workforce of about 11,000.
ZURICH (Reuters) – Swiss dental implant maker Straumann (STMN.S: Quote, Profile, Research, Stock Buzz) said it would axe roughly 150 jobs to boost margins as it grapples with sluggish demand in Europe, its biggest market.
The euro zone debt crisis has battered sales of dental implants made by Straumann and its Swiss rival Nobel Biocare (NOBN.S: Quote, Profile, Research, Stock Buzz) as cash-strapped Europeans, worried about the downturn, cut back on non-essential dental treatment.
ZURICH, Oct 25 (Reuters) – Delays to restarting production
at the U.S. factory that makes Novartis AG’s popular
migraine medicine Excedrin are turning into a major headache for
the Swiss drugmaker’s boss.
Joseph Jimenez is so fed up with having to push back the
timeline to restart manufacturing at its consumer health site in
Lincoln, Nebraska that he’s given up making forecasts.