Takeda Pharmaceutical Co. agreed to buy Swiss drugmaker Nycomed for about 1 trillion yen ($12 billion), the Nikkei newspaper reported. An announcement will be made today, the newspaper said.
EQUITIES: *Roche and Merck & Co. will work together to market treatments for hepatitis C in the U.S. *Roche will present new personalized approaches for people with skin and lung cancer at the Annual Meeting of the American Society of Clinical Oncology *Novartis will provide a restated consolidated income statement data for 2010 and first quarter 2011 to reflect the new divisional structure following the Alcon merger *Swatch Group may create 500 to 700 jobs at a new production site in Bonfol, in Switzerland’s Jura region, over the medium-to long-term, Tages-Anzeiger newspaper reported, without saying from where it got the information *Lonza said it will expand its viral production capacity with the construction of a new cGMP clean room in Houston, Texas *Swiss central bank Vice President Thomas Jordan said concerns that the government’s so-called too-big-to-fail proposals will hurt lenders and undermine economic growth are “exaggerated and largely unfounded.” *Syngenta announced the launch of Vibrance, a seed treatment fungicide based on the new active ingredient sedaxane *Swiss Re declared the exchange offer successful, allowing it to go ahead with a new holding structure *Bucher Says Kuhn Group, John Deere to cooperate on large square balers *Lem Holding reported the termination of its shareholder buy-back program
WHAT TO WATCH: *Swisscanto holds media conference to present pension funds survey results at 10 a.m. in Zurich *Novartis holds webcast at 3:30 p.m. on divisional structure following Alcon merger
ECONOMY/POLITICS: *Swiss government holds regular meeting
MARKETS: *The SMI dropped 1 percent to 6,496.56 *The SPI fell 1.1 percent to 5,976.68 *The Stoxx Europe 600 Index slipped 1 percent to 277.28 *The MSCI Asia-Pacific Index climbed 1.3 percent to 135.60 at 7:26 a.m. Zurich time *Euro-franc traded at 1.2553 at 7:27 a.m. Zurich time