May 9, 2019 / 4:24 AM / 18 days ago

Swiss stocks - Factors to watch on May 9

ZURICH/BERLIN, May 9 (Reuters) - The Swiss blue-chip SMI was seen opening 0.3 percent lower at 9,595 points on Thursday, according to premarket indications by bank Julius Baer .

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

NOVARTIS

* Takeda Pharmaceutical agreed to sell its dry eye drug to the Swiss drugmaker for $3.4 billion and potential milestone payments of up to $1.9 billion, in the first divestment since its takeover of Britain’s Shire.

* Additionally, Novartis said it is confident it has adequate production capacity for its Zolsgensma gene therapy should regulators this month approve the drug for multiple forms of the genetic disease spinal muscular atrophy.

* Novartis said its Sandoz unit received generic approval for Rosuvastatin from China’s National Medical Products Administration (NMPA).

SWISS LIFE

The Swiss life insurer reported a 44 percent increase in premiums in the first quarter, helped by the withdrawal of a competitor in Switzerland that boosted demand for full insurance solutions.

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ZURICH INSURANCE

The insurer is on track to meet or beat its financial targets for 2017 to 2019, it said on Thursday while reporting first-quarter declines in premiums at its property and casualty (P&C) and life insurance businesses.

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ANALYSTS’ VIEWS

ADECCO - Credit Suisse raises to “neutral” from “underperform”

COMPANY STATEMENTS

* Molecular Partners said it had 136.5 million Swiss francs in cash and short-term deposits at the end of March and reduced its guidance for 2019 expenses to 60-70 million francs due notably to the suspension of the enrollment into the NSCLC trial for MP0250.

* ObsEva SA said its net loss widened to $25.7 million in the first quarter of 2019 and it had cash and cash equivalents of $117.3 million at the end of March. It said it made strong enrollment progress in a phase 3 trial for linzagolix in the treatment of uterine fibroids.

* Perrot Duval Holding said it signed an agreement to sell the Infranor group to Haozhi for a net value of 33,7 million Swiss francs.

* Schmolz & Bickenbach said adjusted EBITDA slid to 42.2 million euros in the first quarter and it saw no signs of a rapid recovery in the current low demand, particularly from the European automotive industry.

* Varia US Properties said net operating income increased by 0.6 percent to $10.8 million in the first quarter.

ECONOMY

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

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