Addex, Phoenix Mecano, Roche, Vaudoise May Move: Swiss Equities Preview
The following is a list of companies whose shares may have unusual price changes in Zurich. Stock symbols are in parentheses. Share prices are from the last close.
Novartis AG (NOVN VX): The drugmaker’s U.S. pharmaceuticals unit should pay $190 million to $285 million in punitive damages on top of the $3.4 million awarded to a dozen women in a gender bias verdict, a plaintiffs’ lawyer said in court.
Separately, Novartis minimized the risks of its Menveo vaccine in an audio news release, the U.S. Food and Drug Administration said. The stock was unchanged at 53.05 francs.
OC Oerlikon Corp. AG (OERL SW): The textile machinery maker controlled by Russian billionaire Viktor Vekselberg said its capital restructuring plan was approved by 99.78 percent of votes at its annual general shareholders’ meeting yesterday. The company’s rights offering will start on May 25. The shares slipped 0.4 percent to 49.8 francs.
Phoenix Mecano AG (PM SW): The maker of coin-recognition systems for vending machines agreed to acquire full ownership of Lohse GmbH to expand its solar business. The stock gained 0.4 percent to 540 francs.
Roche Holding AG (ROG VX): The world’s biggest maker of cancer drugs and partner Biogen Idec Inc. are no longer developing the experimental medicine ocrelizumab for use in patients with rheumatoid arthritis. Roche shares were unchanged at 163.9 francs.
Schlatter Holding AG (STRN SW): The welding machinery maker’s profitability is coming under pressure from the weak euro against the franc, Finanz & Wirtschaft reported, citing Chief Executive Officer Jost Sigrist in an interview. The stock was little changed at 243.8 francs.
Vaudoise Assurances Holding SA (VAHN SW): The Swiss insurer said shareholders had agreed to add 62 million francs ($54 million) to the company’s special reserve. The stock dropped 2.1 percent to 225.10 francs.