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Roche's saves $476 million from Boehringer buy:

This article was originally published in Clinica

Executive Summary

Roche says it has achieved 70% of potential synergies from its acquisition in mid-1997 of Boehringer Mannheim, with savings of around SwFr700 million ($476 million). The Swiss company also reported its net income for the full year - SwFr4.4 billion, a 3% increase on the previous year. Roche, which published sales figures in January (see Clinica No 842, p 8), anticipates another good result for 1999. The company also announced that chairman Fritz Gerber will be retiring. Franz Humer has been appointed CEO and as delegate to the board, and the company plans to elect Dr Humer as chairman on Mr Gerber's retirement.

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