May 13, 2019 / 4:28 AM / 2 months ago

Swiss stocks - Factors to watch on May 13

ZURICH/BERLIN, May 13 (Reuters) - The Swiss blue-chip SMI was seen opening 0.2% higher at 9,492 points on Monday, according to premarket indications by bank Julius Baer .

Here are some of the main factors that may affect Swiss stocks:

NOVARTIS

* Novartis is offering price discounts in negotiations with U.S. health insurers on its gene therapy for spinal muscular atrophy (SMA), a treatment that could cost more than a million dollars.

* Additionally, U.S. states filed a lawsuit accusing Teva Pharmaceuticals USA of orchestrating a scheme with 19 other drug companies to inflate drug prices and stifle competition for generic drugs, state prosecutors said. Novartis' Sandoz division is another company named in the lawsuit.

* The Swiss drugmaker also said it had issued a voluntary nationwide U.S. recall of its ninth-best-selling medicine, Promacta, in its 12.5 milligram for oral suspension form, due to potential peanut contamination. Promacta had $1.2 billion in sales in 2018.

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COMPANY STATEMENTS

* Orascom Development Holding posted its first profitable quarter since 2015, generating a net profit of one million Swiss francs in Q1.

* Panalpina: DSV published the offer prospectus for its public exchange offer to buy Panalpina. It offers 2.375 shares of DSV for each registered share of Panalpina. The main offer period will run from May 28 to June 26.

* St.Galler Kantonalbank said it started to implement its share capital increase. The subscription period for the new registered shares runs from May 15 to May 23 and the price of the new registered shares is expected to be between 415 and 440 Swiss francs. ​

ANALYSTS' VIEWS

POLYPHOR - Deutsche Bank cuts to "hold" from "buy"

ECONOMY

No major Swiss economic data scheduled (Reporting by Zurich newsroom and Berlin Speed Desk)

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