October 17, 2013 / 8:53 AM / in 4 years

STOCKS NEWS EUROPE- Actelion falls 3 pct on profit taking

Shares in Actelion fall 3.3 percent on profit taking, traders say, before an anticipated approval for its big drug hope Opsumit by U.S. health regulators later this week.

“Financial results are currently not that relevant as the October 19 date for the U.S. approval decision on Opsumit is imminent. Expectations reflected in the share price performance over the last months anticipate an approval,” analysts at J. Safra Sarasin say in a note.

Shares in Europe’s largest biotech company have shot up more than 9 percent in the last week alone.

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