Galenica: FDA assigns PDUFA Date for Injectafer NDA. Galenica announced in October 2011 that its US partner Luitpold Pharmaceuticals, Inc., had submitted a New Drug Application (NDA) with the US Food and Drug Administration (FDA) for Injectafer® (US brand name of Ferinject, ferric carboxymaltose) for the treatment of iron deficiency anaemia. Link: Click Here

Walter Meier: Oliver Zimmermann appointed new CEO of the Group Division Humidification. A new CEO has been appointed to the Division Humidification of the Walter Meier Group: Oliver Zimmermann will be taking up the reins by May 1, 2012, at the latest. Silvan G.-R. Meier, who is heading up the Group Division on an interim basis, will then return to concentrating fully on his responsibilities as CEO of the Walter Meier Group. Link: Click Here

u-blox, a leading fabless semiconductor provider of embedded positioning and wireless communication solutions for the consumer, industrial and automotive markets, announces a positive business outlook for 2012. For the full year 2012, u-blox management believes that revenues of up to CHF 155 million and an EBIT of approximately CHF 20 million can be achieved. The indications are based on exchange rates of 1.22 for EUR/CHF and 0.90 for USD/CHF. Link: Click Here

Roche: Changes to the Corporate Executive Committee. Roche today announced that Sophie Kornowski-Bonnet, currently General Manager of Roche Pharma in France, has been appointed Head of Roche Partnering. Link: Click Here

Peach Property Group receives a BBB- investment-grade rating for its corporate bond. Prospectus addendum offers increased security and transparency. BBB- investment-grade rating awarded by Creditreform Rating AG. Inclusion in the Entry Standard of Deutsche Börse AG. Issuing volume of up to EUR 50 million. Coupon of 6.6% p.a., duration of five years. Link: Click Here

Novartis announced today new data from the Phase III 2309 study showing patients with relapsing-remitting multiple sclerosis (RRMS) treated with Gilenya (fingolimod) had a statistically significant 48% reduction in annualized relapse rates (ARR) at 24 months compared to placebo. Link: Click Here

 

Economy
********

A mild economic recovery is likely to continue in the U.S., while a mild recession is likely to persist in Europe. However, a failure to address sovereign debt problems in Europe and the U.S. could lead to a more pronounced downturn. Housing, employment, and consumer confidence remain the areas of greatest concern for developed economies. Link: Click Here

UK earnings squeeze intensifies as employment falls. The ILO unemployment rate was unchanged at 8.3% in October, in line with our and the consensus forecast. The number of jobless increased by 128k in the three months to October reaching 2.64m, the highest number of unemployed since 1994. Link: Click Here

Credit Suisse recommends a defensive investment strategy for 2012 as sovereign debt risks and global growth concerns will continue to dominate financial markets in the coming year. With domestic growth moderating, inflation easing and the outlook for global growth deteriorating, there is room for moderate monetary easing in Asia. Link: Click Here