Raiffeisen Switzerland is restructuring its organization by dissolving the "Operating Service" department, which was established in 2022 to align strategy with operations. Starting November 1, the bank will operate with six departments, eliminating interfaces in strategy implementation. Uwe Krakau, the head of the now-defunct department, will be leaving the bank.
UBS has sold its 50 percent stake in Swisscard to American Express, ending a long-standing joint venture. This move is part of UBS's strategy to streamline its business following the acquisition of Credit Suisse. Swisscard will continue to operate independently, with no immediate changes for customers or employees.
The Global Smart Healthcare for Elderly Population Market report provides a comprehensive analysis of market trends, drivers, and opportunities from 2024 to 2031. Key players include Philips Healthcare, GE Healthcare, and IBM Watson Health, with a focus on telehealth services, wearable devices, and remote monitoring solutions. The report highlights regional dynamics and the impact of economic factors on market growth, offering insights for stakeholders across the industry.
Sanofi is selling a 50% stake in its Opella subsidiary, which includes Doliprane, to the American private equity firm CD&R, known for investing in unlisted companies since 1978. With an enterprise value of approximately 16 billion euros, CD&R aims to enhance Opella's growth and establish it as a leader in consumer healthcare. Sanofi will retain about 48% ownership, while Bpifrance is expected to acquire a small stake.
Paris has imposed strict penalties on Opella, a paracetamol manufacturer, to ensure it maintains production and jobs in France following its acquisition by US firm CD&R. The agreement includes a €40 million penalty for halting production at key factories and a €100 million fine for not sourcing paracetamol ingredients from a future French facility. The French government will also invest up to €150 million in Opella to secure oversight of its operations.
Compounding pharmacies are currently allowed to produce versions of GLP-1 medications like tirzepatide, despite the FDA's recent decision to remove it from the national shortage list. This situation arose after a lawsuit from the Outsourcing Facilities Association, which argues that the FDA's actions were arbitrary given ongoing shortages. As the FDA re-evaluates its stance, compounding pharmacies are advised to prepare for potential revenue losses if they can no longer operate in this capacity.
UBS is set to sell a 50% stake in Swisscard to American Express, according to reports from Reuters. This move marks a significant shift in UBS's investment strategy and highlights the ongoing collaboration between the two financial giants.
The Bioreactors Market is projected to experience significant growth from 2024 to 2031, driven by increased demand and technological advancements. A comprehensive report analyzes market size, trends, competitive landscape, and future growth prospects, highlighting key players like GE Healthcare and Pall Corporation. The study also delves into market segmentation, consumption patterns, and pricing strategies, providing valuable insights for stakeholders.
American Express is set to acquire UBS’s 50% stake in Swisscard, making it the sole owner of the company. As part of this transition, Swisscard and UBS have agreed to transfer the Credit Suisse branded card portfolios to UBS, following UBS's acquisition of Swisscard through its integration of Credit Suisse last year.
In Eastern Kentucky, a bitcoin mining venture between Mohawk Energy and HBTPower has devolved into a legal battle, with both parties accusing each other of contract breaches and unpaid fees. The partnership, initially seen as a way to revitalize the local economy, has left facility owners burdened with unpaid energy bills and equipment that remains unused. As disputes between Chinese companies and U.S. facility owners escalate, many are left with few options for financial recovery.