Bachem Mourns the Loss of Company Founder Dr. H.C. Peter Grogg
Bubendorf, Switzerland--(Newsfile Corp. - June 3, 2025) - The founder and honorary chairman of Bachem (SIX: BANB) Peter Grogg, passed away on Monday, June 2, 2025, at the age of 83. Peter Grogg founded Bachem in 1971 and built the company from a two-person operation into the global market leader for the chemical synthesis of peptides. Peter Grogg was CEO of the company for over 30 years until 2002 and Chairman of the Board of Directors of Bachem Holding AG until 2012. His daughter Nicole Grogg Hötzer has served as Vice-Chairwoman of the Board since 2011. For his achievements and merits in the field of peptides, Peter Grogg was awarded an honorary doctorate by the University of Basel.
Kuno Sommer, Chairman of the Board of Directors of Bachem: "With Peter Grogg, we have lost a great entrepreneur. His drive and values made Bachem an internationally successful company and have left a lasting mark on it. In doing so, he has written a chapter of Swiss economic history. On behalf of the Board of Directors, the Executive Committee, and all employees of Bachem, I would like to express our deepest condolences to his wife, his two children, and their families."
About Bachem
Bachem is a leading, innovation-driven company specializing in the development and manufacture of peptides and oligonucleotides. The company, which has over 50 years of experience and expertise, provides products for research, clinical development, and commercial application to pharmaceutical and biotechnology companies worldwide and offers a comprehensive range of services. Bachem operates internationally with its headquarters in Switzerland and sites in Europe, the US and Asia. The company is listed on the SIX Swiss Exchange.
For further information, see www.bachem.com.
This publication may contain specific forward-looking statements, e.g. statements including terms like "believe", "assume", "expect", "forecast", "project", "may", "could", "might", "will" or similar expressions. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors which may result in a substantial divergence between the actual results, financial situation, development or performance of Bachem Holding AG and those explicitly or implicitly presumed in these statements. Against the background of these uncertainties, readers should not rely on forward-looking statements. Bachem Holding AG assumes no responsibility to up-date forward-looking statements or to adapt them to future events or developments.
To view the source version of this press release, please visit
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Globe and Mail
an hour ago
- Globe and Mail
ECB cuts benchmark interest rate by quarter point as Trump tariffs threaten economy
FRANKFURT, Germany (AP) — The European Central Bank cut its benchmark interest rate for an eighth time, aiming to support businesses and consumers with more affordable borrowing as U.S. President Donald Trump's trade war threatens to slow already tepid growth. The bank's rate-setting council cut interest rates by a quarter of a point Thursday at the bank's skyscraper headquarters in Frankfurt. Analysts expected a cut, given the gloomier outlook for growth since Trump announced a slew of new tariffs April 2 and subsequently threatened to impose a crushing 50% tariff, or import tax, on European goods. The bigger question remains how far the bank will go at subsequent meetings. Bank President Christine Lagarde indicated at a post-decision news conference that much depends on whether trade tensions with the U.S. can be resolved. 'A further escalation in global trade tensions and associated uncertainties could lower euro area growth by dampening exports and dragging down investment and consumption,' Lagarde said. 'By contrast, if trade and geopolitical tensions were resolved swiftly, this could lift sentiment and spur activity. A further increase in defense and infrastructure spending, together with productivity enhancing reforms, would also add to growth.' While the trade war and the uncertainty that goes with it is holding back growth, the ECB said the economy should get additional stimulus from higher government spending on defense and infrastructure. European governments are stepping up plans for defense purchases to counter Russia and its invasion of Ukraine. The spending boosts arrive amid concern that the U.S. is no longer a fully committed ally in support of Ukraine. U.S. Defense Secretary Pete Hegseth did not attend a recent meeting of allied nations created to organize Ukraine's military aid. It was the first time the U.S. was not present since the group was set up three years ago. Hegseth's predecessor, Lloyd Austin, created the group after Russia launched all-out war on Ukraine in 2022. Given the different possible outcomes the bank said that it was 'not committing to a particular rate path' for future policy meetings. Thursday's decision took the bank's benchmark rate to 2%, down from a peak of 4% in 2023-24. The bank raised rates to suppress an outbreak of inflation in 2021-23 that was triggered by Russia's invasion of Ukraine, and by the rebound from the pandemic. But as inflation fell, the bank shifted gears toward supporting growth by lowering rates. With inflation now down to 1.9%, below the bank's target of 2%, analysts say the bank has room to take rates even lower to support growth. Trump announced a 20% tariff, or import tax, on goods from the European Union. He later threatened to raise the tariff to 50% after expressing dissatisfaction with the progress of trade talks with the EU's executive commission, which handles trade issues for the 27-member union. Trump and the EU's executive commission have agreed to suspend implementation and any retaliation by the EU until July 14 as negotiators seek to reach agreement. Trump added more disruption this week by suddenly increasing a 25% tariff on steel imports to 50% for all countries except for the U.K. The threat of even higher tariffs has raised fears that growth will underperform already modest forecasts. The EU's executive commission lowered its growth forecast for this year to 0.9% from 1.3% on the optimistic assumption that the 20% tariff rate can be negotiated down to no more than 10%.
Globe and Mail
an hour ago
- Globe and Mail
September British Pound Futures: How to Trade Stagflation Threats and the Moody's Debt Downgrade
September British pound futures (B6U25) present a buying opportunity on more price strength. See on the daily bar chart for the September British pound futures that prices are trending higher and have just hit a three-week high. The bulls have the solid near-term technical advantage to suggest still more price upside in the near term. Fundamentally, the United Kingdom's economy is healthy, overall, and the U.K. and the U.S. are on better trading terms than is the case with the U.S. with most other countries. Meantime, the U.S. economy has also shown some strength but the recent downgrade of U.S. debt by Moody's reminds currency traders of the high U.S. debt burden and fiscal problems. There are also increasing worries of inflation or even stagflation for the U.S. economy in the coming months. A move in the September British pound futures above chart resistance at this week's high of 1.3600 would become a buying opportunity. The upside price objective would be 1.4200, or above. Technical support, for which to place a protective sell stop just below, is located at 1.3350. IMPORTANT NOTE: I am not a futures broker and do not manage any trading accounts other than my own personal account. It is my goal to point out to you potential trading opportunities. However, it is up to you to: (1) decide when and if you want to initiate any trades and (2) determine the size of any trades you may initiate. Any trades I discuss are hypothetical in nature. Here is what the Commodity Futures Trading Commission (CFTC) has said about futures trading (and I agree 100%): Trading commodity futures and options is not for everyone. IT IS A VOLATILE, COMPLEX AND RISKY BUSINESS. Before you invest any money in futures or options contracts, you should consider your financial experience, goals and financial resources, and know how much you can afford to lose above and beyond your initial payment to a broker. You should understand commodity futures and options contracts and your obligations in entering into those contracts. You should understand your exposure to risk and other aspects of trading by thoroughly reviewing the risk disclosure documents your broker is required to give you.
CTV News
2 hours ago
- CTV News
ECB cuts benchmark interest rate by quarter point as Trump tariffs threaten economy
The European Central Bank, right, is pictured in Frankfurt, Germany, Wednesday, June 4, 2025. (AP Photo/Michael Probst) FRANKFURT, Germany — The European Central Bank cut its benchmark interest rate for an eighth time, aiming to support businesses and consumers with more affordable borrowing as U.S. President Donald Trump's trade war threatens to slow already tepid growth. The bank's rate-setting council cut interest rates by a quarter of a point Thursday at the bank's skyscraper headquarters in Frankfurt. Analysts expected a cut, given the gloomier outlook for growth since Trump announced a slew of new tariffs April 2 and subsequently threatened to impose a crushing 50% tariff, or import tax, on European goods. The bigger question remains how far the bank will go at subsequent meetings. Bank President Christine Lagarde's remarks at a post-decision news conference will be scrutinized for hints about the bank's outlook. Thursday's decision took the bank's benchmark rate to 2%, down from a peak of 4% in 2023-24. The bank raised rates to suppress an outbreak of inflation in 2021-23 that was triggered by Russia's invasion of Ukraine, and by the rebound from the pandemic. But as inflation fell, the bank shifted gears toward supporting growth by lowering rates. With inflation now down to 1.9%, below the bank's target of 2%, analysts say the bank has room to take rates even lower to support growth. David Mchugh, The Associated Press
