EUROPEAN: bourses were generally lower in the reporting period to January 14 but, having failed to benefit from earlier investors moves into defensive issues, Big Pharma came into its own, with ZURICH seeing a 5.9% rise for Roche and 3.5% for Novartis on January 8, leaving the stocks 5.8% and 2.9% higher, respectively, over the week, while little Actelion was the star with a 12.5% gain on no particular news. PARIS saw strong buying in Sanofi-Aventis, which was up 3.7% against a 0.9% fall in the CAC 40. However, FRANKFURT was least impacted by the defensive drug stock buying, although Merck KGaA ended the week 4.6% higher, having risen 5.3% on January 9. Bayer rose 2.3% but ended the week just marginally higher, up 0.1%. Moreover, on the last reporting day nearly all the European majors saw a decline, as sector players took in profits and analysts downgraded these stocks.
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A biotechnology company, based in China, developing car-t-based therapeutics for haematological and metabolic and endocrine diseases with a focus on addressing unmet medical need.
Stock Commentary - Europe - week to Jan 14, 2008
EUROPEAN: bourses were generally lower in the reporting period to January 14 but, having failed to benefit from earlier investors moves into defensive issues, Big Pharma came into its own, with ZURICH seeing a 5.9% rise for Roche and 3.5% for Novartis on January 8, leaving the stocks 5.8% and 2.9% higher, respectively, over the week, while little Actelion was the star with a 12.5% gain on no particular news. PARIS saw strong buying in Sanofi-Aventis, which was up 3.7% against a 0.9% fall in the CAC 40. However, FRANKFURT was least impacted by the defensive drug stock buying, although Merck KGaA ended the week 4.6% higher, having risen 5.3% on January 9. Bayer rose 2.3% but ended the week just marginally higher, up 0.1%. Moreover, on the last reporting day nearly all the European majors saw a decline, as sector players took in profits and analysts downgraded these stocks.
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
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