Caroline's Feed
Apr 29, 2014

ABB to overhaul power systems unit again as division hits profit

ZURICH, April 29 (Reuters) – Swiss engineering group ABB
said it would embark on further restructuring of its
power systems division after weak orders for the unit and
charges related to wind and solar power projects led to an
unexpected fall in first-quarter profit.

It will now halt bids for new turnkey solar power generation
projects, reassess its business model for offshore wind power
connections and implement further management changes. These come
on top of previous measures in late 2012 to be more selective
about projects.

Apr 28, 2014

Holcim says huge interest in disposals, forex hits sales

ZURICH, April 28 (Reuters) – Holcim said there was
strong interest in the market for assets it must sell to get the
go-ahead for its merger with France’s Lafarge, as
foreign currency swings weighed on its first-quarter results.

The two companies need to shed around 5 billion euros ($6.9
billion) in assets to try to persuade regulators to back the
proposed merger, which would create the world’s biggest cement
maker with $44 billion in annual sales.

Apr 25, 2014

Swisscom enters fray for PubliGroupe web directories

ZURICH, April 25 (Reuters) – Telecoms group Swisscom
said it had submitted a non-binding offer worth 230
million Swiss francs ($261 million) to buy PubliGroupe’s
shares in two local directory businesses, creating the
potential for a takeover battle.

The bid from Switzerland’s national telecoms provider comes
on the heels of last week’s public tender offer for all shares
in PubliGroupe from Swiss media company Tamedia AG. The
offer of 150 Swiss francs per share values the advertising group
at around 375 million francs.

Apr 25, 2014

Swisscom offers PubliGroupe 230 mln to fully own web directories

ZURICH, April 25 (Reuters) – Telecoms group Swisscom
said it had submitted a non-binding offer worth 230
million Swiss francs ($261 million) to buy PubliGroupe’s
shares in two local directory businesses, creating the
potential for a takeover battle.

The bid from Switzerland’s national telecoms provider comes
on the heels of last week’s public tender offer for all shares
in PubliGroupe from Swiss media company Tamedia AG. The
offer of 150 Swiss francs per share values the advertising group
at around 375 million francs.

Apr 24, 2014

Novartis sales miss forecast as readies overhaul

ZURICH, April 24 (Reuters) – Swiss drugmaker Novartis
posted a weaker-than-expected 1 percent rise in
quarterly sales, underscoring the pressures from generic
competition and tighter healthcare budgets that led it to
announce a radical business overhaul earlier this week.

On Tuesday, Novartis unveiled a series of deals worth over
$25 billion aimed at strengthening its cancer business and
exiting underperforming operations – part of a wider trend among
drugmakers to focus on their best assets.

Apr 22, 2014

Novartis and GSK trade assets as pharma industry reshapes

ZURICH/LONDON, April 22 (Reuters) – Novartis and
GlaxoSmithKline traded over $20 billion worth of assets
on Tuesday, aiming to bolster their best businesses and exit
weaker ones as the drugs industry reshapes to cope with
healthcare spending cuts and generic competition.

The deals, which include Novartis buying GSK’s cancer drugs
and GSK acquiring Novartis’ vaccines business, came hot on the
heels of a newspaper report that AstraZeneca had turned
down a $101 billion bid approach from Pfizer – a story
that sent shares across the sector surging.

Apr 22, 2014

Novartis reshapes business via deals with GSK and Lilly

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.

Apr 17, 2014

Actelion says year off to good start with new drug launch

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
first-quarter result.

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.

Apr 16, 2014

Syngenta sees bigger hit from weak emerging market currencies

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.

Apr 15, 2014

New cancer drugs limit Roche first-quarter sales drop

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.