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Novartis prices new cancer drug on ability to pay

This content was published on May 15, 2001 The offer looks set to re-ignite the controversy over the pricing of drugs and the question of more affordable treatment. The US market is the largest source of profits for the global drugs industry. About 5,000 people in the United States and about the same number in Europe are diagnosed with chronic myeloid leukaemia each…

Swiss Stock Exchange to extend trading hours

This content was published on May 15, 2001 Equity securities, derivative instruments and exchange-traded funds will now stay open until 1800 local time to bring it into line with London-based virt-x’s hours. Virt-x is being created through the merger of the SWX’s blue-chip sector with the British based electronic stock exchange, Tradepoint. It will begin by trading leading Swiss and British shares and…

UBS reports steep decline in net profit

This content was published on May 15, 2001 The bank’s earnings for the first three months of the year amounted to SFr1.579 billion ($901 million), down 29 per cent compared to the same period last year and three per cent lower than the preceding quarter. Despite the decrease, UBS’s management insisted it was satisfied with the results. “Our businesses performed encouragingly this quarter,…

Seriously rich now number more than seven million

This content was published on May 15, 2001 It revealed that more than 7.2 million people worldwide, about the population of Switzerland, last year held some $27 trillion in wealth, up from SFr25.5 trillion in 1999. The details are contained in the World Wealth Report 2001 produced by bankers Merrill Lynch and the consulting firm Cap Gemini Ernst and Young. The report says…

Kuoni holds AGM amid bitter boardroom bickering

This content was published on May 15, 2001 The battle for control broke out when five of the eight company board members demanded the resignation of Daniel Affolter. They accuse him of awarding himself payments of millions of francs from the Kuoni and Hugentobler foundation, which holds 25 per cent of the company’s voting rights. The board is also filing criminal charges against…

Boardroom battle sees Kuoni shares dip

This content was published on May 14, 2001 Shares in the company lost SFr44 ($23) to trade at SFr701 at the close of business, down from a year-high of SFr795 reached in March. The battle for control of the company broke out just over a week ago when five of the eight board members demanded the resignation of the chairman, Daniel Affolter. They…

Countdown begins to next year’s national exhibition

This content was published on May 14, 2001 Television advertising spots, brochures and a touring information centre are strategies being used to increase public interest in the one-off event, which has been beset by problems since its conception. Launching the media campaign in Neuchatel, Expo director Nelly Wenger said she hoped the publicity drive would mark a turnaround in the exhibition’s fortunes. She…

Swiss set out stall at World Health Assembly

This content was published on May 14, 2001 “Along with education, health is one of the most important resources a country has for economic growth,” says Thomas Zeltner, head of the federal public health office, stressing one of the underlying principles of the Swiss delegation. “The link between ill health and poverty is clear. Health should be high on the agenda of sustainable…

Switzerland calls for tougher action on global poverty

This content was published on May 14, 2001 The week-long conference, which ends on Sunday, is focusing on ways to relieve the burden of debt in the 45 poorest nations in the world. Topics slated for discussion include ways of reducing and managing debts and the possibility of opening up the markets of industrialised nations to more developing countries. Switzerland, represented at the…

Roche board meets to discuss job cuts

This content was published on May 14, 2001 The board is also expected to weigh up its options after its larger Swiss rival, Novartis, bought a 20 per cent stake in Roche in a surprise move last week. Roche’s chairman and chief executive, Franz Humer, denied the board was holding an emergency meeting. He said the decision to bring the meeting forward from…

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Novartis prices new cancer drug on ability to pay

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Swiss Stock Exchange to extend trading hours

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UBS reports steep decline in net profit

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Seriously rich now number more than seven million

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Kuoni holds AGM amid bitter boardroom bickering

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Boardroom battle sees Kuoni shares dip

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Countdown begins to next year’s national exhibition

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Swiss set out stall at World Health Assembly

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Switzerland calls for tougher action on global poverty

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Roche board meets to discuss job cuts

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