Ellen's Swiss News World
ZURICH, SWITZERLAND – In Swiss business news this week: ABB makes solar power move, European trains deal ABB and Power-One siad Monday that their boards have agreed to a transaction in which ABB will acquire Power-One for $1.028 billion equity value. Power One provides renewable energy and energy-efficient power conversion and power management solutions. ABB [...]
GENEVA, SWITZERLAND – Daniel Vasella, the outgoing chairman of pharmaceutical giant Novartis, admitted to shareholders Friday 22 February that he made mistakes in negotiating a CHF 72 million payout, which had caused much controversy a few weeks prior to the national vote on the Minder initiative regarding corporate compensation. In addressing his final annual general [...]
BASEL, SWITZERLAND – Daniel Vasella, chairman of the board of Novartis who will step down at the annual general meeting Friday 22 February, will not receive a CHF72 million no-competition payment, when he steps down. The company has indicated that by mutual agreement, his contract will end after the AGM, ending all additional payment clauses. [...]
BASEL, SWITZERLAND – The news last week that Daniel Vasella will receive CHF72 million when he steps down as head of pharmaceutical giant Novartis had already sparked negatives comments from unions and politicians on the left, but Sunday 17 February central-right politicians and activist investor groups expressed their dismay and anger. The company’s board meeting [...]
Company expects 2013 to solidly match 2012 despite generics fight BASEL, SWITZERLAND – Daniel Vasella, who has led Novartis for 17 years to its position today as Europe’s largest pharmaceutical company, is stepping down as chair of the board in February, the company announced 23 January. Shares in the firm rose 2.6 percent when the [...]
GENEVA, SWITZERLAND – Novartis’s flu vaccines, sold under the names Aggripal and Fluad, are available again after a week’s suspension while health authorities verified there were no problems. The vaccine’s distribution was halted by Italian authorities and then by the Swiss 24 October after questions were raised about the safety of white particles in the [...]
GENEVA, SWITZERLAND – Friday was a relatively normal day in central Geneva, not far from the train station, until everyone, or nearly everyone, froze. Medecins Sans Frontiers (Doctors Without Borders) went very public with its support for generic drugs for India and its opposition to Novartis’s court case to protect its drug brands there. Some [...]
BASEL, SWITZERLAND – Swiss pharmaceutical company Novartis says 2012 earnings will be down, as expected, with old drug patents expiring and a sudden rise in the dollar hitting second quarter sales, but the slip will be less than expected. The company issued its Q2 results Thursday 19 July, showing sales down 4 percent to $14.3 [...]
BASEL, SWITZERLAND – Roche Pharmaceuticals in Basel is the latest Swiss pharma firm to announce job cuts, saying Tuesday 26 June that it will be laying off 1,000 workers at its Nutley, NJ site. The company will be creating about 80 new positions in Switzerland and Germany as part of efforts to consolidate its research [...]
Five months ago the company was cutting jobs; today it is expanding its Swiss base BASEL / GENEVA, SWITZERLAND – Novartis is pumping CHF500 million into a new plant in Stein, canton Aargau, near Zurich, to replace an older one with a state of the art production facility. Stein will become a platform for launching [...]
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