LONDON, Sept 9 (Reuters) – Swiss engineering group ABB ABBN.VX said it would buy back $4 billion of shares, offering a sweetener to investors after a series of problems at its power systems unit and in the face of sluggish economic growth.
The Zurich-based firm’s Chief Executive Ulrich Spiesshofer is presenting his new strategy and financial targets exactly one year since taking over from predecessor Joe Hogan.
ZURICH, Sept 4 (Reuters) – Swiss drugmaker Roche
said on Thursday that Art Levinson had resigned from its board
of directors with immediate effect, in order to avoid any
conflict of interest given his role as chief executive at
The move comes a day after Calico partnered with Roche’s
rival AbbVie Inc to invest in new research
operations for age-related diseases.
ZURICH, Sept 3 (Reuters) – A wireless microphone in the
shape of a pen, made by Switzerland’s Sonova, can help
people with hearing loss understand speech better than those
with normal hearing at certain noise levels, a study has shown.
As the population ages, the hearing aid industry has become
fiercely competitive as manufacturers rush to launch devices
packed with newer technologies that will increase the appeal of
ZURICH, Sept 2 (Reuters) – Switzerland’s economy
unexpectedly stalled in the second quarter, showing zero growth
as trade took a hit from stagnation in its main export market
Europe and falling construction spending.
The flatlining data, missing forecasts of a 0.5 percent lift
from the previous quarter, was the weakest reported by the State
Secretariat for Economic Affairs in two years and suggested
forecasts for the rest of the year may need to be
ZURICH, Aug 26 (Reuters) – Straumann, the world’s
largest maker of dental implants, has no interest in joining the
suitors for No.2 player Nobel Biocare, preferring
instead to go after deals in the fast-growing Chinese market, it
said on Tuesday.
The Swiss firm, battling sliding sales in its main market of
Europe, has stepped up its investments in the Asia/Pacific
region, where one in every five dental implants is sold.
LONDON/ZURICH, Aug 24 (Reuters) – Roche Holding AG
has agreed to buy U.S. biotech company InterMune Inc
for $8.3 billion in cash, marking the latest multibillion-dollar
deal in a consolidating pharmaceutical sector.
The Swiss drugmaker said on Sunday it would pay $74.00 a
share for InterMune, representing a premium of 38 percent to the
closing price on Aug. 22.
ZURICH, Aug 22 (Reuters) – Swiss drugs industry supplier
Lonza Group AG is courting the financial backers of
biotech firms to help secure a steady stream of projects and
offset some of the volatility of outsourced production
contracts, a senior executive said.
The Basel-based company has seen growing demand for its
outsourcing services over the past year as drugmakers invest in
specialised drugs that are hard to produce, such as
antibody-drug conjugates and ingredients for cell and viral
ZURICH, Aug 21 (Reuters) – Swiss engineering group ABB
has developed technology that can double the power
flow of underground cables, making it cheaper to integrate
electricity into the grid from distant offshore wind farms.
The innovation means a single high-voltage direct current
(DC) cable can now transmit up to 2.6 gigawatts (GW) of power –
enough energy to power two million homes, or serve the
electricity needs of Paris, ABB said on Thursday.
ZURICH, Aug 21 (Reuters) – Nobel Biocare, a Swiss
dental implant maker that has been approached by potential
buyers, said on Thursday that its turnaround strategy was
“unquestionably working” as it raised its forecast for
The world’s second-biggest dental implant maker declined to
comment on the progress of talks with potential buyers which it
confirmed at the end of July were at a “very early” stage.
ZURICH, Aug 20 (Reuters) – Novartis has signed a
licensing deal to hand over its experimental tuberculosis (TB)
drugs to the Global Alliance for TB Drug Development, joining a
growing Big Pharma retreat from antibiotics.
The TB Alliance deal reflects renewed scrutiny of the
Novartis portfolio under new chairman Joerg Reinhardt, who is
focusing the Swiss company’s research on core areas such as
cancer, respiratory drugs, heart failure and dermatology.