ZURICH, Dec 12 (Reuters) - Swiss shares were seen opening lower on Friday following sharp losses in Asian stocks after a $14 billion plan to bailout the American car industry failed in the U.S. Senate.
The Swiss blue-chip SMI index was expected to open 181 points lower at 5,549 points, according to pre-market data from Clariden Leu.
The following are some of the main factors expected to affect Swiss stocks:
NOVARTIS
The Swiss drug maker said on Friday that first Phase III results for its FTY720 drug showed superior efficacy to a current standard of care for patients with relapsing multiple sclerosis.
Combining GlaxoSmithKline's Tykerb drug with Novartis's Femara can delay significantly the progression of breast cancer in some women, researchers said on Thursday.
The Novartis bone-strengthening drug Zometa may enhance the effects of chemotherapy, shrinking breast tumors and helping more women avoid a mastectomy, British researchers said.
Evidence of asthma-related deaths and serious complications have led a U.S. advisory panel of experts to warn against continued use of Glaxo's Serevent and Novartis AG's Foradil for adults, adolescents and children with asthma.
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ABB
Swiss engineering group ABB and Japan's Toshiba Corp said on Thursday they were among a group of power transformer makers probed by the European Commission for alleged participation in a cartel.
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ZURICH FINANCIAL SERVICES
Swiss insurer Zurich Financial Services Group has agreed to pay $25 million to settle charges that it used reinsurance contracts to illegally alter financial information.
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COMPANY STATEMENTS
*Kardex AG acquires US competitor Kardex Systems Inc
EQUITY RESEARCH
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