Healthcare companies spearhead Swiss stocks advance

June 10
9:23 AM 2013

Led by a strong showing of health-care companies, stocks in Switzerland gain momentum as the Swiss Market Index boast its biggest advance in six weeks.

An increase of 0.4% to 7,815.46 by the benchmark SMI was recorded 1:57 p.m, in Zurich. Another 0.4% was added by the Swiss Performance Index .

On the rise is Novartis AG, which increased after their company-funded research proved Gilenya's (an independent pharmaceutical company) treatment is effective for patients suffering from multiple sclerosis. The study verified Gilenya's claims that interferon, the usual regulatory medication for multiple sclerosis, is inferior to the drug company's product. The company increased 1% to 67.85 francs.

Roche Holding AG also gained after acquiring approval for the European market release of Roactemra, a drug for a rare kind of arthritis. The early go-signal caused an increase of 0.9 percent to 233.6 pence.

AMS (AMS) AG; however, plummeted by 19% after lowering its earnings outlook.

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