Two pharma titans,GlaxoSmithKline and Novartis,are entering into a complex 25 billion dollar transaction.Novartis,based in Geneva,Switzerland,is buying GSK's oncology unit for 14.5 billion dollars;at the same time,Britain's GSK is buying Novartis' vaccine unit.Finally,the two firms are forming a joint venture that combines their over the counter drug businesses.
Today we announced we are focusing on our pharmaceutical,eye care,and generics businesses,said Novartis CEO Joseph Jimenez.We're gonna add probably one billion people on earth,and 50% of them will be over 50.It's gonna take innovation to deal with it.We've got these powerhouses that fit exactly with the demographic changes for the next 20 years-for example,GSK's two drugs for metastatic melanoma.
I believe increased technology is gonna allow new targets in cancer that we've never seen before.We're at the beginning of having new tools to combat this disease like never before.This deal with GSK changes the financial profile of Novartis,increasing our operating margin significantly.The whole portfolio review was to allow us to have great strength in that new world.I'll be able to feed these big engines a lot more.We're generating better leverage than we have in the past,explained Mr.Jiminez,who is an American.*
In addition,Novartis is selling its animal health business to Eli Lilly.Even when the deal with GSK is completed,Novartis will still be open to more bolt-on acquisitions that benefit its three lines of business.*
Novartis(NVS),Eli Lilly&Co(LLY),GlaxoSmithKline(GSK)
Showing posts with label Switzerland. Show all posts
Showing posts with label Switzerland. Show all posts
Friday, April 25, 2014
Friday, September 13, 2013
UN Special Envoy to Join US-Russia Talks
Lakhdar Brahimi,the former Algerian foreign minister who is now UN and Arab League Special Envoy to Syria,will join the second day of talks between Secretary of State John Kerry and Russian Foreign Minister Sergei Lavrov in Geneva,Switzerland.Mr.Brahimi is an expert in mediation and peacekeeping operations and serves as a Special Adviser to UN Secretary General Ban Ki-Moon.
Kerry and Lavrov had a dinner meeting Thursday evening to discuss technical details of the Russian proposal to turn over Syrian chemical weapons to international supervision.Syria itself submitted a letter that begins the process of its membership in the chemical weapons convention,which actually entails a series of legal obligations over a period of years,including the destruction of all of their chemical weapons within ten years.There are 189 other member countries of the treaty which has the force of international law.
Kerry told Lavrov we are serious,as you are,about engaging in substantive,meaningful negotiations even as our military maintains its current posture to keep up the pressure on the Assad regime.Expectations are high.They are high for the United States-perhaps even more so for Russia to deliver on the promise of this moment,Mr.Kerry continued.The talks could reportedly extend into Saturday.The two top diplomats had a cordial demeanor in public as the US insists on a definitive,verifiable plan that catalogs,collects and destroys Syrian chemical weapons based on a full accounting with exact locations.
Pentagon Press Secretary George Little said that the threat of military action must be maintained.Secretary of Defense Chuck Hagel spoke to some of the US Navy ships in the Eastern Mediterranean,who assured him they remain ready to execute the president's orders.
Kerry and Lavrov had a dinner meeting Thursday evening to discuss technical details of the Russian proposal to turn over Syrian chemical weapons to international supervision.Syria itself submitted a letter that begins the process of its membership in the chemical weapons convention,which actually entails a series of legal obligations over a period of years,including the destruction of all of their chemical weapons within ten years.There are 189 other member countries of the treaty which has the force of international law.
Kerry told Lavrov we are serious,as you are,about engaging in substantive,meaningful negotiations even as our military maintains its current posture to keep up the pressure on the Assad regime.Expectations are high.They are high for the United States-perhaps even more so for Russia to deliver on the promise of this moment,Mr.Kerry continued.The talks could reportedly extend into Saturday.The two top diplomats had a cordial demeanor in public as the US insists on a definitive,verifiable plan that catalogs,collects and destroys Syrian chemical weapons based on a full accounting with exact locations.
Pentagon Press Secretary George Little said that the threat of military action must be maintained.Secretary of Defense Chuck Hagel spoke to some of the US Navy ships in the Eastern Mediterranean,who assured him they remain ready to execute the president's orders.
Monday, January 30, 2012
Tech Trends:Google Exec Predicts Cheaper Smart Phones
Eric Schmidt,the software engineer who is Google's Executive Chairman,remains the public face of the company after having left the CEO role.His wide-ranging thoughts are heard
everywhere from the halls of Congress to the World Economic Forum that was just held in Davos,Switzerland.
Everything feels sluggish because there's not enough demand,Mr.Schmidt remarked in Davos,but the Internet continues to win advertising,which is less expensive on it.We haven't seen the slowness as hard as others.
Phones that are powerful will go down in price to 60-70 dollars for a billion people.People outside the Western world will rely on mobile phones in fundamental ways because they don't have access to TV and libraries.
We at Google love advertising and we innovate in many ways in it.We're coming up with new ways to make sure your advertising money is well spent.
In the cloud,you don't have to use email to collaborate.People need service and support,and applications can be built on top of it even if it's free.If 100 million people use it,you can make money from it,Eric Schmidt asserted.
Google's Q4 earnings were below estimates,causing the share price to drop 57 dollars.Wells Fargo downgraded the firm from outperform to market perform.
Google,Inc.(GOOG)
everywhere from the halls of Congress to the World Economic Forum that was just held in Davos,Switzerland.
Everything feels sluggish because there's not enough demand,Mr.Schmidt remarked in Davos,but the Internet continues to win advertising,which is less expensive on it.We haven't seen the slowness as hard as others.
Phones that are powerful will go down in price to 60-70 dollars for a billion people.People outside the Western world will rely on mobile phones in fundamental ways because they don't have access to TV and libraries.
We at Google love advertising and we innovate in many ways in it.We're coming up with new ways to make sure your advertising money is well spent.
In the cloud,you don't have to use email to collaborate.People need service and support,and applications can be built on top of it even if it's free.If 100 million people use it,you can make money from it,Eric Schmidt asserted.
Google's Q4 earnings were below estimates,causing the share price to drop 57 dollars.Wells Fargo downgraded the firm from outperform to market perform.
Google,Inc.(GOOG)
Sunday, May 15, 2011
Asia This Day
News from Japan dominated the opening hours of the first business day of this week.In M&A news,Toshiba is said to be close to acquiring Swiss smart meter firm Landis+Gyr.Landis+Gyr has outfitted tens of thousands of Danish homes with their energy management technology.
Japan's machinery orders were up 2.9% for the month of April and 6.8% on the year.This may be because Japanese companies are getting set to resume full operations following March 11th's earthquake and tsunami.
The Japanese government is asking banks to forgive Tokyo Electric Power's debt.Tepco,owner of the damaged nuclear plants,is critical to the Tokyo area and the national economy.
Mizuho Financial forecasts an 11% profit increase this year.
Elsewhere in Asia,Singapore strongman Lee Kuan Yew has resigned from the nation's cabinet after five decades,saying it was time for someone younger to take the reins.
In early Asia trading,Japan's Nikkei 225 was down 82.66,while the Korean Kospi declined 14.26 and the Australian ASX 200 dropped 64.70.
It was 82F in Hong Kong under mostly cloudy skies.The day had begun with fog and rain.
iShares Japan MSCI Index Fund(EWJ)
Japan's machinery orders were up 2.9% for the month of April and 6.8% on the year.This may be because Japanese companies are getting set to resume full operations following March 11th's earthquake and tsunami.
The Japanese government is asking banks to forgive Tokyo Electric Power's debt.Tepco,owner of the damaged nuclear plants,is critical to the Tokyo area and the national economy.
Mizuho Financial forecasts an 11% profit increase this year.
Elsewhere in Asia,Singapore strongman Lee Kuan Yew has resigned from the nation's cabinet after five decades,saying it was time for someone younger to take the reins.
In early Asia trading,Japan's Nikkei 225 was down 82.66,while the Korean Kospi declined 14.26 and the Australian ASX 200 dropped 64.70.
It was 82F in Hong Kong under mostly cloudy skies.The day had begun with fog and rain.
iShares Japan MSCI Index Fund(EWJ)
Friday, August 15, 2008
Shop Talk
I advertised in Switzerland this week.My best regards to the Swiss and all my readers.Congratulations to all the Olympic athletes and the Chinese hosts.So far,everyone in the games has won a gold for good behavior.Late summer needs this bit of color.
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