In 2023, CEO salaries in Switzerland increased by an average of 5%, reaching CHF 8 million ($9.2 million), according to a study by the Ethos Foundation. UBS CEO Sergio Ermotti topped the list with CHF 14.5 million, followed by Novartis and Nestlé executives. Despite rising remuneration, shareholder opposition to such increases is growing, with 17.7% rejecting top managers' pay demands in 2024.
CEO pay among the largest listed Swiss companies increased by an average of 5% last year, reaching CHF 8 million. This rise was largely driven by UBS CEO Sergio Ermotti, who earned CHF 14.5 million during his nine-month tenure, making him the highest-paid CEO in the Swiss Market Index. Notably, the total remuneration for SMI CEOs has surged by approximately 25% over the past three years.
The global autism spectrum disorder market is valued at approximately $30 billion in 2023, with a projected CAGR of 4% from 2024 to 2032, driven by improved diagnostic tools and early intervention strategies. North America is expected to dominate the market, while the Asia-Pacific region is anticipated to grow rapidly due to increased awareness and healthcare investments. The antipsychotic drug segment leads the market, addressing severe behavioral symptoms and enhancing patients' quality of life.
Otsuka Pharmaceutical's experimental drug, sibeprenlimab, has shown promising results in a Phase 3 trial for IgA nephropathy, a rare kidney disease, demonstrating a significant reduction in protein levels in urine, a key indicator of kidney health. The company plans to discuss accelerated approval with the FDA while the trial continues, expected to conclude in early 2026. This development validates Otsuka's acquisition of Visterra, which focuses on immune diseases, and positions sibeprenlimab as a potential first-in-class treatment for IgAN.
The drug and biotech sector is experiencing a strong earnings season, highlighted by Johnson & Johnson's recent performance, which exceeded estimates and led to an upward revision of revenue expectations. Five large drug companies—Novo Nordisk, Novartis, Pfizer, Regeneron Pharmaceuticals, and Biogen—are anticipated to outperform in their upcoming quarterly results, with Novo Nordisk showing a positive Earnings ESP of +1.02% and a Zacks Rank #3. Overall, the Medical sector is projected to see a 6.4% rise in fourth-quarter earnings and an 8.5% increase in revenues.
Sanofi is moving forward with a deal to sell a controlling 50% stake in its consumer health business, Opella, to Clayton Dubilier & Rice for approximately €16 billion ($17.3 billion). Bpifrance will hold a 2% minority stake, ensuring job security in France amid concerns over potential job losses. The transaction is expected to close by Q2 2025, allowing Sanofi to focus on its biopharmaceuticals.
Roche is shifting its R&D focus towards major diseases like obesity and diabetes, responding to rising healthcare costs and government demands for cost-effective treatments. The company aims to develop transformative drugs for chronic illnesses, anticipating that these areas will account for over 50% of the global disease burden in the next decade. With the obesity drug market projected to exceed $100 billion annually by 2030, Roche's renewed investment includes a $2.7 billion acquisition of Carmot Therapeutics to bolster its cardiovascular-metabolic research.
Sanofi is investing 300 million euros for a 16% stake in a new joint venture with Orano Med to develop radiopharmaceuticals targeting rare cancers, particularly using the radioisotope lead-212. This partnership aims to leverage expertise in biopharma and nuclear technology to advance cancer treatment. The joint venture is valued at 1.9 billion euros, following Sanofi's recent licensing of an experimental drug for neuroendocrine tumors.
GSK is suing Moderna for allegedly infringing on seven patents related to mRNA vaccine technology, which were developed by a team led by Christian Mandl during his time at Novartis. GSK claims that Moderna's success in rapidly developing its COVID-19 vaccine relied on these patented methods. The lawsuit seeks unspecified damages and reimbursement for legal costs.
The Swiss stock market experienced a decline mid-week, with the SMI index falling 0.21% to 12,193.07 points amid investor caution ahead of the European Central Bank's interest rate decision. Major losses were seen in luxury goods and technology sectors, particularly for Swatch Group and Richemont, following disappointing figures from LVMH. In contrast, stocks like Autoneum and Julius Baer showed gains, while Tecan plummeted 15% due to a forecast cut.
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