December 5, 2019 / 6:18 AM / a month ago

Swiss stocks - Factors to watch on December 5

BERLIN/ZURICH, Dec 5 (Reuters) - The Swiss blue-chip SMI was seen opening 0.2% higher at 10,358 points on Thursday, according to premarket indications from bank Julius Baer.

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

NOVARTIS

* The Swiss drugmaker plans to make 80 major submissions with regulators for drug approvals from 2020-2022 in the United States, Europe, Japan and China, the company said on Thursday ahead of a meeting with analysts and investors.

* The company also said it started its tender offer to buy The Medicines Co. at $85 per share.

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JULIUS BAER

Swiss private bank Julius Baer is setting aside 153 million Swiss francs ($153 million) to cover demands made by a German government agency seeking to recover East German assets that went missing after the fall of the Berlin Wall.

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COMPANY STATEMENTS

* Idorsia Ltd said it entered into an exclusive license agreement with Mochida Pharmaceutical Co. for daridorexant, Idorsia’s dual orexin receptor antagonist (DORA), for insomnia and related disorders in Japan.

* Schaffner Holding reported a 10.9% drop in 2018/2019 net sales to 197.4 million Swiss francs ($197.95 million).

ECONOMY

No major economic data scheduled. ($1 = 0.9972 Swiss francs) (Reporting by Zurich newsroom and Berlin Speed Desk)

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