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Catalan Companies Weigh an Exit as Investors Laud Their Plan B

  • Drugmaker Oryzon soars after deciding to leave for Madrid
  • A company in benchmark index is said to have contingency plan
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King Felipe Calls Catalan Leaders' Conduct Unacceptable

Drugmaker Oryzon Genomics SA became the first listed company to announce it’s moving out of Catalonia following an illegal independence referendum in the region that has pushed Spain into political chaos. Other companies are considering doing the same.

Oryzon shares rose as much as 33 percent Wednesday after it announced it would move to Madrid from Barcelona, indicating that investors welcome companies ridding themselves of the political uncertainty surrounding Catalonia’s push for independence. Oryzon’s move is the clearest example so far of rising corporate anxiety, as other companies based in the coastal region prepare plans in case political tensions worsen.