The Swiss stock exchange is experiencing a busy reporting season, with UBS reporting a better-than-expected billion-euro profit and Sandoz raising its sales outlook. The SMI is up 0.27% in pre-market trading, while Novartis received FDA approval for a leukemia treatment. Meanwhile, Swatch faces a "Sell" rating, and Kühne+Nagel sees a decline after a target cut.
The Swiss stock exchange is active with the reporting season, highlighted by UBS exceeding profit expectations and Sandoz raising its sales outlook. The SMI is up 0.27%, while major US tech firms, including Microsoft and Meta, are set to report, amid anticipation for the US labor market data. Novartis received FDA approval for a leukemia treatment, while Swatch and Richemont received mixed ratings from Berenberg.
Sandoz shares surged 3.3% to CHF 39.38, reaching an all-time high, following strong third-quarter results and raised sales targets. Year-to-date, the stock has gained over 40%, despite a weaker overall market. Analysts remain optimistic, with a price target of CHF 45 and a "buy" recommendation.
The ketoconazole market, valued at $106.24 million in 2022, is projected to grow at a CAGR of 3.1% through 2030, driven by rising demand for skin care drugs and increased product launches. The oral ketoconazole segment is expected to see significant growth, particularly in the APAC region, due to a busy lifestyle and a growing population. Major players include Mylan Inc., Johnson & Johnson, and Teva Pharmaceutical Industries.
At the Swiss SP Congress in Davos, delegates called for a public pharmaceutical strategy to address the drug crisis, emphasizing the need to curb excessive profits by the pharmaceutical industry and ensure affordable healthcare. Co-president Mattea Meyer highlighted the high cost of medicines in Switzerland compared to Europe and advocated for improved global access to essential medicines. A position paper was adopted, proposing the transformation of Sandoz into a public utility to secure a reliable supply of medicines in the public interest.
The Socialist Party has proposed the nationalization of Sandoz, advocating for its purchase by the Confederation to ensure a stable supply of essential medicines amid a growing shortage. Additionally, the party aims to abolish the debt brake, arguing it exacerbates societal divisions, and has called for increased support for victims of gender-based violence. Co-president Cédric Wermuth emphasized solidarity with all victims of the Middle East conflict, advocating for peace and coexistence.
Amgen is set to launch its Eylea biosimilar, Pavblu, after a court ruling lifted a temporary injunction that had blocked its introduction. Despite Regeneron's claims of patent infringement and plans to continue legal battles, analysts suggest Amgen's move may be a tactic to prompt a settlement. The legal dispute intensified after a district court denied Regeneron's request for a preliminary injunction, allowing Amgen to proceed with its launch "at risk."
The SMI stock market shows no clear direction, with Sandoz gaining while SGS faces selling pressure and Swiss Steel's share price collapses. In Tokyo, the Nikkei index rose 0.3% to 39,110.95 points, driven by technology stocks like Advantest and Tokyo Electron, despite caution ahead of corporate results and the upcoming general election on October 27. Major losers included Fast Retailing, KDDI, and Daiichi Sankyo.
UBS aims to become the leading European investment bank while expanding its market share in the USA, where M&A activity is robust. Despite facing challenges from dominant US banks and ongoing integration work with Credit Suisse, UBS is positioned for growth, having acquired top M&A advisors and showing potential for upward movement in league tables. The M&A advisory business is expected to gain momentum, with optimism surrounding upcoming large transactions.
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