Word: basel
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Confronted by the high cost of research, expiring patents and the explosive growth of generic drugs, many pharmaceutical companies will step up efforts to broaden their global reach through mergers or cooperative ventures. But such pressures were few in 1896, when Hoffmann-La Roche was formed in Basel and began producing a cough syrup called Sirolin. The company prospered at first but then almost went broke during World War I because one of its important markets was revolution-torn Russia. Fearing a Nazi invasion in the 1930s, Hoffmann-La Roche created a twin Canadian-based company called Sapac...
Despite the capitalization changes, Hoffmann-La Roche is certain to retain the air of genteel mystery that has long surrounded it. Control will remain in the hands of the Basel-based Sachers. The family, one of Switzerland's leading cultural benefactors, is headed by Maja Sacher, 93, and her second husband Paul, 83. Maja Sacher's first husband, Emanuel Hoffmann, son of the company's founder, died in a car crash in 1932. A prominent patron of modern art, Maja Sacher has endowed Basel's museums with works by 20th century masters. Paul Sacher, an energetic conductor, has sponsored scores...
...demonstration quickly turned into disaster. Four minutes after takeoff from a commercial airport just north of Basel, Switzerland, the plane made the first of two planned low-altitude flybys for the crowd of 15,000 attending the air show at the tiny Habsheim, France, airstrip 15 miles away. The announcer touted the new jet ("It's so quiet you can barely hear its engines") as it went by at about 135 m.p.h...
...will grow from $148 billion in fiscal 1987 to somewhere between $160 billion and $175 billion next year. With an election year coming up, the chances for major spending cuts or tax increases are slim. Says Swiss Economist Christoph Koellreuter, who heads the Forecasting Institute at the University of Basel: "For political reasons, the U.S. is unlikely to do what it should...
...Tonegawa might never have received his Nobel Prize if it were not for U.S. immigration laws. After his visa expired in 1971, Tonegawa, who had recently completed his Ph.D. at the University of California at San Diego, was forced to leave the U.S. He ended up at Switzerland's Basel Institute for Immunology, where he managed to solve a puzzle that had baffled biologists for a century...