Stock market index EuroStoxx predicted to increase following reduction in US interest rates.
In a significant move, Swiss pharmaceutical giant Roche has announced its acquisition of U.S.-based biopharmaceutical company 89Bio. This acquisition comes as Roche's shares moderately rose, while the news had a less favourable impact on Swatch, a Swiss watch company.
Swatch's shares suffered losses, with initial stronger declines that ended up with a decrease of 1.4 percent. The disappointing data on Swiss watch exports in August is believed to be the main factor behind Swatch's share performance.
Meanwhile, 89Bio, which is also based in the U.S., has been making waves in the biopharmaceutical sector. The company is pioneering the development of innovative therapies for liver and cardiometabolic diseases. In fact, just recently, shares of 89Bio soared by over 85 percent in New York.
The interest in 89Bio extends beyond Roche, as another pharmaceutical company, Novo Nordisk, had previously acquired the U.S. company due to its focus on novel therapies targeting metabolic and fibrotic conditions.
This acquisition by Roche underscores the growing importance of biopharmaceutical companies in the global healthcare landscape, particularly those that are at the forefront of developing innovative treatments for diseases that continue to pose significant challenges to public health.
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