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$28M for Holocaust – For survivors’ fund

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Switzerland’s two biggest drugmakers, Novatis AG and Roche Holding AG, will contribute $14 million each to a $1.25 billion settlement with Holocaust survivors, Bloomberg news reported Sept. 12.

In July, a U.S. judge okayed a settlement between Holocaust survivors and Switzerland’s two largest banks, UBS AG and Credit Suisse Group, that aims to compensate victims.

The banks and other Swiss firms have been criticized for hoarding money or using forced labor during World War II, Bloomberg said.

The agreement with the two drug firms follows by two weeks an announcement by Nestle SA, the largest food company, that it would contribute $14.6 million to the settlement.

The drug firms expect their contributions to cover all possible claims from the war.

They also said their separate German subsidiaries will help create a German foundation with undisclosed contributions.

For full story, see AOL.

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