Zürich — Novartis weighed on the Swiss equity market again on Tuesday, sending the SMI below 14,100 points — its lowest reading since late June.
The Basel-based pharmaceutical company dropped after reporting a second clinical study setback within days, compounding investor concerns about its pipeline.
The decline in Novartis shares, one of the SMI's heaviest constituents, pulled the index lower. The level marks the first time the benchmark has traded under 14,100 since late June, underscoring the outsized influence the pharma group exerts on Switzerland's broad gauge.
A full account of broader market impacts was not immediately available.
