Galenica Climbs After Raising 2012 Profit Forecast: Zurich Mover
Galenica AG (GALN), the world’s biggest maker of iron-replacement drugs, rose the most in more than nine months in Zurich after increasing its full-year profit forecast.
Galenica climbed as much as 4.5 percent, the biggest intraday advance since Nov. 11. The stock traded 3.9 percent higher at 581 Swiss francs as of 9:16 a.m. The shares have advanced 7.1 percent this year, including reinvested dividends, compared with a 12 percent gain in the Swiss Performance Index.
The Bern, Switzerland-based company expects profit to rise this year, it said as it reported first-half earnings today. Galenica said in March that 2012 profit would be unchanged.
First-half net income rose 13 percent to 119.6 million francs ($123 million), and sales advanced 2.2 percent to 1.62 billion francs.
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