The pharmaceutical group Roche has surpassed Nestlé to become the most valuable Swiss company, driven by strong performance and significant losses in the food
giant's shares. Roche's market capitalization now stands at approximately CHF232 billion, slightly ahead of Nestlé's CHF230 billion. This shift reflects contrasting share price trends since mid-June, with Nestlé experiencing a steady decline while Roche has enjoyed a resurgence.
The release of Nestlé's half-year financial report on Thursday did little to improve its stock performance, with shares now trading at CHF87.56, a level not seen since early 2019. In contrast, Roche shares have surged since hitting a low in mid-May, recovering from a weak first half of the year and restoring investor confidence.
Meanwhile, Novartis, another major player in the pharmaceutical industry, ranks third on the Swiss stock exchange with a market capitalization of CHF213 billion, trailing closely behind Roche and Nestlé. Photo by Michielverbeek, Wikimedia commons.