PHARMACEUTICALS
<strong>Roche, Novartis cut ties</strong>
Swiss pharmaceuticals giant Roche Holding AG yesterday said that it would buy about one-third of its voting capital held by rival Novartis as the two groups disentangle their ties for greater strategic flexibility. The two drugmakers said in separate statements that Roche would repurchase 53.3 million of its own shares held by Novartis for about 19 billion Swiss francs (US$20.8 billion). Novartis has been a shareholder of Roche since May 2001 and currently holds 33 percent of its outstanding voting shares.
AUTO
<strong>Protean, Bedeo near deal</strong>
China Evergrande Group’s (恆大集團) automotive unit is nearing a sale of UK start-up
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/PRNewswire/ According to the new market research report "In-Wheel Motor Market by Propulsion (BEV, HEV, PHEV & FCEV), Vehicle Type (PC & CV), Motor (Axial.
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