The prices of Novartis, up by over 4,5 percentage points on the Zurich Stock Exchange, which in the same minutes rebounded by 3,7% after the -15% suffered between Thursday and Friday due to the decision of the Central Bank to decouple the franc from the euro.
The purchases on the shares of the Swiss pharmaceutical group are fueled by the green light from the European authorities for a drug against psoriasis. Novartis itself has announced that the EU Commission has authorized the use of the molecule Cosentyx as a primary anti-psoriasis treatment.
Analysts estimate that Cosentyx, which has already received regulatory approval in Japan and Australia, could achieve annual revenues of up to $1,5 billion. US health authorities are expected to decide early this year whether to approve the drug.
