Swiss Market Index Opens Week Muted; Roche Falls Amid Pharma Day

11:51 AM EDT, 09/28/2026 (MT Newswires) -- Switzerland's blue-chip index started the trading week 0.02% lower amid a quiet day for local economic news, while investors assessed Roche's (RO.SW) announcements at its Pharma Day 2026 event. Roche expressed confidence in its drug pipeline and growth outlook for 2030 and beyond at its investor event, noting that it has advanced six new promising molecular entities into late-stage studies since the prior year. The drugmaker also set out plans to develop autonomous artificial intelligence labs amid its commitment to "AI independence" in research and development. "We actually have the highest value pipeline that we have ever had at Roche today. And that is because fundamentally we are focused on areas that we believe can make the biggest impact to global health," Teresa Graham, chief executive officer of Roche's Pharmaceuticals division, said at a presentation. The Swiss drugmaker also decided to cease the development of emugrobart in obesity and return rights to the medicine to its majority-owned business, Chugai Pharmaceutical. At the end of Monday's trading session, Roche fell 1.87%. Meanwhile, UBS Group (UBSG.SW) received approaches from at least eight major foreign banks, including Morgan Stanley, Deutsche Bank and Standard Chartered, for a potential merger, local newspaper Blick reported, citing sources close to the matter. The interest came as Swiss lawmakers voted in favor of a proposal requiring UBS to back its foreign units with 90% common equity tier 1 ⁠capital. RBC Capital Markets expects the move to cut the Swiss bank's EPS by 9%. "The decision by the Upper House is close to the worst case at 90% CET 1 backing, but this might mean that other legislative hurdles are easier to take or might soften the outcome," according to the research firm, which updated its estimates and retained its price target of 44 francs per share, with an outperform rating. UBS edged down 0.71% at close. On the geopolitical front, Qatari mediators are set to hold separate talks with Iran and the US on Monday or Tuesday, focusing on an amended version of Iran's seven-day proposal to end the war and reopen the Strait of Hormuz, an official briefed on the negotiations told Reuters.