Swiss Stocks Fall As Banks, Drug Makers Struggle

(RTTNews) - Swiss shares edged down Friday as big banks struggled and pharmaceuticals giants Roche and Novartis failed to rebound despite positive news.

The Swiss Market Index (SMI) dropped 0.41 percent to 8,374.47.

Patients taking Novartis' inhaled medicine Onbrez Breezhaler for chronic lung disease had benefits similar to those taking GlaxoSmithKline's Seretide, the Swiss drugmaker said.

U.S. health regulators approved Roche's HPV test for first-line primary cervical cancer screening.

Shares of both companies were down fractionally.

Holcim's Anjuma business reported a forecast-beating rise in quarterly profit on higher sales. Holcim lost 0.8 percent.