Swiss Billionaires Buy Merck Serono HQ for Biotech Campus
5/22/2013 8:16:33 AM
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Swiss billionaire Ernesto Bertarelli has bought back the Geneva headquarters of his former biotech firm Serono, hoping to establish a biotech research campus. After selling the family business to German drugmaker Merck KGaA for $13.3 billion in 2006, the Harvard Business School graduate went on to win the America's Cup sailing prize for the second time. He and his former beauty queen wife Kirsty cut a high profile among the Swiss jet-set. To buy back the site, Bertarelli formed a company called Campus Biotech with fellow Swiss billionaire Hansjoerg Wyss, who made part of his fortune by selling Synthes, a maker of artificial joints, to Johnson & Johnson in 2011 for over $21 billion.
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