Roche under fire from Ethos over its top salaries

Severin Schwann, chief executive, Roche: paid too much? Ethos says yes

ZURICH, SWITZERLAND – One week before the Swiss vote on whether to limit executive and board salaries and mandates, pharmaceutical company Roche in Basel has come under attack. Dominique Biedermann, president of the Swiss investors’ foundation Ethos told German language Sonntag Zeitung Sunday that the company’s leaders are overpaid and that it is recommending that […]

Roche cuts 1,000 jobs in US, adds 80 in Switzerland, Germany

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 […]

Swiss business: Swatch buys suppliers, Roche hurt by franc, franc up against $

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WTO in Geneva predicts slower exports in 2012 GENEVA, SWITZERLAND – The high Swiss franc went higher against the dollar Wednesday 11 April, as it “appreciated against 11 of 16 major peers”, Bloomberg reported late 11 April, noting that “strengthened against the dollar after the country sold bonds amid demand for its assets as a […]

Business: airlines, Coty, LeShop, Solar Impulse, Roche

GENEVA, SWITZERLAND – Business highlights Wednesday 4 April include: Iata, the airline industry organization, says that traffic increased in February, up 8.6 percent for passenger traffic and 5.2 percent for cargo, but it cautions that with petrol prices rising the outlook remains fragile. Coty, American beauty company that also owns a number of top clothing […]

Swiss business highlights: Aussie heads BIS, Roche down, Syngenta up, poker raid

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GENEVA, SWITZERLAND – Swiss business news is dominated this week by Roche’s glum third quarter earnings, which the company attributes to the strong franc. Sulzer, however, announced Friday 14 October that new orders are up strongly despite the franc while Syngenta shows increased sales. Q3 financial results in Basel-based pharmaceutical giant Roche saw its sales […]

Swiss business news highlights 20 July: pharma, oil spill, media

GENEVA, SWITZERLAND – GenevaLunch is on a slow-news holiday schedule for the next two weeks, but to make sure you don’t miss key reports we’re bringing you highlights from some of the news beats, with links to original sources: EPFL plays key role in understanding Deepwater Horizon oil spill EPFL is playing a key role […]

Herzog & de Meuron’s Roche tower plans get final touch

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Switzerland’s tallest building will be white stacked layers Basel, Switzerland (GenevaLunch) – Architects Jacques Herzog and Pierre de Meuron have put the finishing touches on plans for pharmaceutical company Roche‘s new Building 1 (Bau 1 in German) centre in Basel. The plans were first presented to the public in 2006 but have undergone several changes […]

Roche Pharma lays off 770 in Switzerland

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Company will cut back 8,400 jobs in two years for $2.4b annual savings Basel, Switzerland (GenevaLunch) – Roche has been true to its word earlier this year that it would make “significant” job cuts after setbacks in its drug business: Wednesday morning 17 November the company said that it is cutting back 6 percent of […]

Roche profits down thanks to Genentech

Basel, Switzerland (GenevaLunch) – Pharmaceutical multinational Roche says its turnover fell by 22 percent in 2009 compared to 2008 due to charges linked to its purchase of US company Genentech. Operating profits rose by 14 percent before the exceptional charges, however, and the company had record sales, up 10 percent to CHF49.1 billion.

Alert – Martigny-Sion trains stopped Saturday night: accident

Update 01:00  Lausanne, Switzerland (GenevaLunch) – An accident involving a person on the rails near Roche-Aigle in canton Vaud stopped most train traffic between Martigny and Sion late Saturday night, according to a 21:45 CFF notice. Several trains were cancelled: update – service has been resumed. Link to CFF alerts