On Monday, the Swiss lab had already announced the purchase of another biotech, the California BioImagene for about 100 million dollars. And the other major labs are no exception.Sanofi-Aventis has announced the July 1 takeover of the U.S. biotech TargeGen. That's about the 25th agreement reached by the French laboratory with a biotech since arriving at his head Chris Viehbacher in December 2008. These alliances are not confined to Europe and the United States. Earlier this year, bioMérieux has acquired, for 10 to 15 million euros, a Chinese group, Meikang Biotech specializes in the manufacture of rapid tests.

"The major laboratories multiply this kind of agreement from two to three years to overcome a deficit increasing need for innovation in-house and access to proprietary technology platforms," said Vincent Genet, director of the activity of the firm Alcimed health."Smaller biotechs, in turn, can not afford to assume alone the costs of development of their drug candidates."

Progressive Funding

But it is rare that manufacturers take immediately all the risk. Most operations are based on incremental funding. Paid as and drug development, they can be supplemented by royalties on the commercialization of products.

These operations, which often have no impact on buyers for several years, have "nothing to do with mergers with large biopharma," says Vincent Genet. After the acquisition of Genentech by Roche last year for $ 47 billion, Sanofi-Aventis discussed today a merger with Genzyme. The operation seems to stumble on the price.According to the American press, Genzyme seeks in effect more than 18.4 billion dollars (14 billion euros) that Sanofi would have offered.

These mergers, which provide great laboratories of developing products and marketed drugs, may provide access to "a very different economic model," said Vincent Genet. This changes the perception of the laboratory, giving it a more focused biotech. This may also contribute favorably to income through sales made. A biotech can also expand the universe of which seizes lab. This is the case of the manufacturer of Botox, Allergan, valued near $ 20-billion. It would give the buyer access to the cosmetics market and emerging countries.

The day of the signing of these agreements, whose existence was confirmed by lawyer Francois-Marie Banier, it would have sent a letter to the former CEO of L'Oreal, Lindsay Owen-Jones, making reference to payments "Dear Lindsay, It is with great emotion that I have just signed the contract that allows me to work even for ten years without the desire to please," wrote François-Marie Banier, already accused by Francoise Bettencourt Meyers, the daughter of Liliane Bettencourt, "abuse of weakness" on the person of his mother.

This time, it is the shareholders who turned against Francois-Marie Banier. According to Le Monde, citing the lawyer Frederik-Karel Canoy, a sixty shareholders have decided to join the approach of Michel Tiphineau, a retiree who has already filed complaints against Francois-Marie Banier 5 July last for abuse of corporate assets .The Paris prosecutors opened a preliminary inquiry, which has been entrusted to police the financial police.

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Obama wants to "kick some butt"

The boss of BP is found in a weak position, particularly after the resounding declarations of Barack Obama. Asked by NBC, Bush pointed the finger at Tony Hayward about awkward. "It would not work for me after these statements," said Bush.We talk with these guys because they are potentially more able to tell me who to kick your ass.

Tony Hayward was heavily criticized after saying a week ago wanted to "get his life before" and the Gulf of Mexico was "a great ocean where the environmental impact of the disaster is very, very modest." Words that had caused such an outcry from the families of 11 victims who died in the explosion and for which he apologized on Facebook. 81% of Americans felt negatively the reaction of BP.

Obama worse than Bush

The position of Barack Obama is not the most comfortable vis-à-vis the American people cheap payday advance. A poll ABC News / Washington Post, 69% of respondents have a poor opinion of the management of the crisis the Obama administration.By comparison, 60% of Americans disapproved of the action of George Bush response to Hurricane Katrina in 2005.

Tony Hayward, who will be the only witness to a hearing entitled "The role of BP in the explosion of the drilling rig Deepwater Horizon and the oil spill, to answer questions from elected members of the Subcommittee on Oversight and Investigations of the House of Representatives.

Two months after the explosion

The hearing will take place almost two months after the explosion on April 20 of the platform which has killed 11 people and caused a huge oil spill in the Gulf of Mexico, affecting the fauna and flora in several states in the southern U.S. coast U.S. including Louisiana.

The head of BP America, Lamar McKay, had already been questioned by several committees of both houses of Congress in May.

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The DAX index of the Frankfurt Stock Exchange ended down 3.27% at 5715.09 points (-6.86% on the week). In London, the FTSE-100 lost 2.62% to 5123.02 points (-7.75%). The Madrid Stock Exchange ended on a further sharp decline of 3.28% to 9046.1 points. The Ibex index, which lost 5.41% Tuesday, a victim of rumors about a need Spanish assistance from the IMF, cowardly 13.78% on the week.

Italy was also concerned by reports of infection, despite denials by the rating agencies. In Milan, where the negotiations were suspended on the main platforms due to "technical problems" to 4:40 p.m. this Friday, the stock ended down 3.27%.A decrease of 10.43% in 5 days.

Nordic Scholarships are not spared the nervousness in Copenhagen, the OMX index-20 star has unscrewed the closing today of 4.14% to 371.12 points, while in Helsinki, the OMX 25 fell 4.1% to 2001.08 points. In Stockholm, the main square Nordic OMX 30 index finished down sharply from 3.34% to 944.57 points, while in Oslo, the benchmark index has lost 2.87% to 348.98 points.

The Athens Stock Exchange, to whom all eyes are turned, closed the week down 2.86% to 1630.47 points.

Panic

In the wake of Wall Street, which yesterday saw a historic fall 9% in session yesterday after a "computer error or human, the European stock exchanges have experienced panic attacks. Around 4:40 p.m., the ACC let go of 5.70% to 3353.35 points, the Brussels Stock Exchange plunged 4.19% to 2,300 points.Same thing in Madrid where the Ibex-35 index fell by 4.26% to 8954.2 points. The Dax took down sharply from 3.49% to 5701.80 points. London lost 4.1% to 5045.3 points. Even the Moscow stock exchange gave up 5.54%!

"There is no fundamental to explain, if not very deep nervousness in the markets. The volatility is very important, and uncertainty, fueled by the approach of the German elections weigh, "said Frederic Rozier, manager of equity in Meeschaert Private Banking.

Yesterday, Jean-Claude Trichet failed to reassure European markets or Wall Street.The markets fear that the problems of Greece are not being passed in other European countries, and have in particular strong impact on banks cash advance to savings account.

Visit Brussels and conference call of G7

On the macroeconomic front, while the austerity plan was adopted by the Greek Parliament, Heads of State and Government of the eurozone meeting in Brussels from 19 o'clock tonight.Angela Merkel and Nicolas Sarkozy to defend this time the need to strengthen in the future budgetary control of the eurozone countries, sanctions and possible revisions of the treaties in support.

The finance ministers of the G7 major industrial countries have them held a conference call urgently on the crisis that has engulfed the markets.

Barack Obama also spoke on the topic Friday. The American president wanted to be reassuring, saying the U.S. had continued to cooperate with EU authorities and the International Monetary Fund deal with the crisis of debt. "We've agreed on the importance of a vigorous policy response in the countries concerned and on that of a robust financial response of the international community," he said.

In the United States precisely, the U.S. Department of Labor announced that the economy had created more jobs than expected in April: 290,000 jobs were created last month, is the highest number since March 2006. But these new, "very encouraging" by Barack Obama, went unnoticed on the markets …

Side currencies, the euro rebounded against the dollar after a plunge yesterday, under $ 1.26 for the first time since March 2009. Around 18 hours, the single currency climbed from 0.70% to 1.2740 dollar.

Bank penalty

On the values front, as saying that the values are nonexistent on the rise in Paris. The titles are the most attacked, of course, those in banking / insurance, the most exposed. Company g?n?raleperd 8% and won the title of the largest drop of ACC. Just behind, cowardly Dexia 7.54%, Credit Agricole7, 20%, BNP Paribas 5.68%.Axa slipped 6.56%.

Veolia Environment (-5.27% to 21.67 euros) is the sentence after the publication of its quarterly results.

NicOx pharmaceutical value fall -10.29% to 6.79 euros after the announcement of 7.2 million euros in losses in the first quarter.

Dominique Strauss-Kahn said he was "confident" about the resolving the financial difficulties of Greece. On the condition that "the euro area and the IMF act quickly." Even reassuring speech by Jean-Claude Trichet: "I am the working hypothesis that we will reach a good result at the end of this negotiation. It depends on us and it depends on the Greek government. I am confident. "

The two leaders apparently he managed to complete their first mission, to reassure markets.The cost of insurance on debt Greek, CDS (Credit default swaps), has fallen sharply to 690 basis points, while they peaked at 822 points the day before, Markit News reported. On equity markets, investors remain worried. In Paris the CAC 40 lost including another 1% at 16 hours at 3805 points. Elsewhere

German parliamentarians were they sensitive to speech and Strauss-Kahn Trichet? The fact is that they have hammered the Bundestag. "Do not act in time could have consequences beyond Europe," warned the director of the IMF, joining on this point the Greek Prime Minister George Papandreou. It is "confidence in the euro area is at stake," he added. A recurring theme echoed by Jean-Claude Trichet, president of the ECB.The latter stressed the need for "absolute" for Germany to decide very quickly, to avoid contagion in the euro area quick payday loans.

100-120000000000 aid discussed

The Director of the IMF also warned Greeks next level consequences of international aid: "The reforms will be painful," he warned, without deciding for the moment on a total allocation, as discussions with the Greek government will not be closed. The Greek Minister of Employment has already indicated that Greece refused to make the wage cuts demanded by the IMF and the ECB.

Earlier in the afternoon, a German deputy, Juergen Trittin, however, had said that the overall plan of aid to Greece should reach 100 to 120 billion euros over three years, saying, quote the director of the IMF speaking in the chamber of the Bundestag.In return for this support more than expected, Greece should refrain from market to finance themselves during the next three years, understands J?rgen Trittin.

Other information gleaned from the Bundestag, where Jean-Claude Trichet, ECB president, and Dominique Strauss-Kahn spoke this afternoon, the ECB and the IMF would have rejected the request of some German parliamentarians to engage in some banks plan help set up, according to statements by a member of the CDU, the party of Chancellor Angela Merkel.

On this occasion, the German parliament, which could give trouble to the leaders of the eurozone and the IMF launched a warning: their support for Germany's plan to help Greece will "not automatic".

The Chancellor said his "confidence" in the capacity of Greece to present a credible program of savings. But on Monday, she went before the cameras with fifteen minutes late, illustrating the tensions within the corridors of the Chancery on the issue of the bailout."I say clearly, will help Germany Greece if the conditions are met," he assured the Chancellor.

Merkel has ruled out the hypothesis of an outflow of Greece to the euro area considering that possibility, raised by some in Germany these days, including in its majority, was "not an option" and did markets cause concern. She received Tuesday at the chancellery IMF chief Dominique Strauss-Kahn. The Chancellor also insisted that the director of the Fund met the leaders of parties represented in the Bundestag, which must approve the financial aid in time. She said "understand very well the concerns of people in Germany."That is why "I insist on a comprehensive, well prepared" Greek deficit reduction, "she added.

Since Greece has called Friday, triggering the mechanism of EU aid and the IMF, the spirits continue to heat up the Rhine. The German media fanning the fire by increasing reports showing that the crisis has not changed in Greece, where taxi drivers and newsagents continue to be paid to black and where public employees receive pensions comfortable .The Germans, who tighten their belts over the past ten years, refused a massive rescue of Greece.

With the approach of regional elections on May 9 in North Rhine-Westphalia, difficult for the center-right government of Chancellor, the leaders of the majority want to avoid at all costs to lose the vote because of aid to Greece .

European Reviews

The Finance Minister, Wolfgang Sch?uble, had brandished the threat of a veto German plan with the EU and the IMF. The liberal FDP say that Berlin "will not offer the Greeks a blank check." Although she has promised to act quickly, Merkel tried to play the shows, even if only to show that it has not sold off billions of German taxpayers.

The attitude of Germany as always irritates its European partners.The President of the Eurogroup Jean-Claude Juncker in Berlin accused of throwing "a priority under domestic political issues in Europe." The Italian Foreign Minister Franco Frattini, said he was "troubled" by the "rigidity" of Germany.

France is showing more diplomatic. Monday, following a lunch between Nicolas Sarkozy and European Commission President Jose Manuel Barroso, the Elysee said that both had "acknowledged their agreement on the need for swift and resolute action against the speculation that Greece aims to ensure the stability of the euro area.

But speed does not mean precipitation, "said Minister of Economy Christine Lagarde. "We all need to preserve the process of the rule of law and democracy," she said Monday from New York, acknowledging that the situation is "a bit chaotic.Although "the markets have found the reaction too slow European [...] the debate is necessary for local views," she added, referring to the German electoral context. If the situation does not release quickly, a special meeting at the highest level of Heads of State and Government of the EU may be needed to resolve the crisis, said Franco Frattini.

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Around 8:20, the index future on the CAC 40 rising 0.39%.

Yesterday, the number of unemployed registered in the U.S. fell less than expected during the week ended April 17, and producer prices have rebounded sharply in March. This growth is fueling speculation about a future rate hike from the Federal Reserve. Wall Street closed slightly lower.

This morning, Asian stock markets are also changing in quick retreat.

In this context, the euro hit a new low against the dollar at 1.3202 dollars to a euro.The single European currency has reached the floor in the morning in Tokyo. Around 3:15, she sat up slightly, to around 1.3235 dollars, against 1.3293 the previous day to 23 hours in New York. The euro has broken the 1.3280 support and could, according to technical analysis, find its level in March 2009 and November 2008, or $ 1.24 per euro.

Clear indicators

On Friday, France, INSEE begin at 8:45 am by disclosing its quarterly survey of conditions in the industry for the month of April and spending on household consumption of manufactured goods in March.

In the euro area, new industrial orders in February are known.In Germany, the Ifo confidence barometer for April will be followed, while the first estimate of GDP in the first quarter will be published in the United Kingdom

In the U.S., at 14.30, investors will pay attention to durable goods orders (March), then 16 hours, the promise of home sales (also in March).

Wind Publications

Side values, the specialist construction Saint-Gobain aenregistr? sales down 0.5% to 8.7 billion euros, and maintained its targets for 2010.

Essilor, the world leader in ophthalmic lenses, on Friday issued a turnover of 905.8 million euros in the first quarter, up 7.8% over one year through acquisitions and a recovery of activity, particularly in emerging countries.

At 4.7 billion euros (+8.1%), the turnover of the group L'Oreal is slightly above expectations.L'Oreal has been observed in the first quarter of the divisions that had been heavily impacted by the crisis.

The first European manufacturer of semiconductors STMicroelectronics announced Thursday that it had returned to profit and exceeded the consensus expectations in the first quarter of 2010.

EDF will host the market reaction after the Russian electricity trader Inter Rao, announced last night a planned entry to the French capital of Russia, at 10% interest. An investment valued at 400 million dollars (299 million euros).

Zodiac regained its financial leeway when it observes an encouraging start of recovery in commercial aviation.The aerospace supplier has published sales in the first half down 12.8% to 966 million euros.

Still later boats, sailboats, but this time, the B?n?teau Group has reiterated its target for operating profit of 37.5 million euros for the 2009/2010 financial year despite a loss in the first half.

Side car, Valeo announced Thursday a 42% jump in its quarterly revenue, and confirms its objective of doubling the margin in 2010.The acceleration of the automobile production observed at the end of the year thanks to scrap premiums had still not disproved.

On the sidelines of the Beijing Motor Show currently underway, Changan Automobile Group China confirmed Friday it was in talks with French automaker Peugeot on the creation of a possible joint venture in commercial vehicles.

AXA continues to make targeted acquisitions after taking over the assets of investment capital to Natixis.The group has announced yesterday that its subsidiary AXA PE will buy Bank of America to a private equity fund of 1.9 billion dollars.

Euler-Hermes profit quintupled

Euler-Hermes expects its net profit increase by five this year and think back to its turnover at the 2008 level, according to the CEO of the credit insurer, Wilfried Verstrate.

Ingenico announced Thursday it was on track to meet its financial targets in 2010 after seeing its sales on a constant increase of 8.8% in the first quarter.

Somfy Thursday posted a turnover up 10.2% but warned that the economic situation was still marked by pressure on prices and margins.

Are still expected this Friday publications sales and quarterly Interparfums Damartex.

Jamie Dimon, CEO of JP Morgan, said that these results reflect another strong quarter for investment banking arm as well as asset management and retail banking.However, the bank recorded heavy losses in the sector of consumer credit.

Outlook 2010

Jamie Dimon wants confident for the rest of the year, explaining that the economy still faces great difficulties, but there were significant improvements that will lead to a strong recovery. It also plans to create 9,000 new jobs there in the United States.

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Other European shares also follow. In London, the FTSE-100 index opened down 0.18% to 5767.18 points. The DAX index of the Frankfurt Stock Exchange starts, he, sitting down 0.23% to 6236.28 points.

Without major indicators Monday, the markets were moving without motion but with optimism, encouraged by the European rescue plan to Greece.In the U.S., Wall Street ended the balance after the announcement of a budget deficit of 65.4 billion dollars in March, above expectations of analysts.

On Tuesday, several key statistics, however, could lead the French markets. INSEE announced that consumer prices rose 0.5% in March compared to February, an increase of 1.6% over one year.Note that in Germany, inflation was confirmed at 1.1% annual rate in March over a year.

The current account deficit of the Hexagon totaled 3.6 billion euros in February after 4 billion the previous month (-3.4 billion in the first estimate), according to the Bank of France fast payday loan.

Overseas, prices for imports and exports are expected to 14:30, at the same time as the trade balance figures.

Furthermore, after Alcoa, Intel continues a series of quarterly publications by revealing the figures in its first quarter after market close on Wall Street.

Values follow

Lagardere (+0.13% to 31.55 points) will be monitored throughout the session. The market reaction is expected after the support of governance expert at RiskMetrics Group Franco-American investor Guy Wyser-Pratte.This support should assure him of collecting a large share of the votes of investors at the meeting of the group, April 27.

The "clash" between Areva (stable at EUR 398.8) and EDF (-0.63% to 41.56 euros) continues on nuclear. Reportedly, the two companies would be unable to agree on a contract extension on Eurodif uranium enrichment. A deal with Areva for 500 million.

Arcelor Mittal (-0.87% at 33.06 euros) should respond to the publication of results of aluminum giant Alcoa. The U.S. announced after the close of Wall Street yesterday, a net loss of 201 million dollars in the first quarter of fiscal 2010. A number two and a half times less than a year ago. The stock ended the session up 1.25%.

The president of the National Insurance retirement professionals have been accused of threatening the financial stability of pension professionals. The CGT denounced examples of undocumented workers forced to adopt the status of self-contractor.

Building professionals and artisans in turn accused them of practicing unfair competition. "The autoentrepreneurs who make no sales for a year and no declaration shall lose their status.The others must be forced to create a company after the second year, "Patrick said Thursday Li?bus, president of the Confederation of Crafts and Small Business Building (Capeb). He welcomed the approach of Senator Jean Arthuis (Centrist Union), chairman of the Senate Finance Committee, author of an amendment to regulate the status of self-contractor.This text was discussed Thursday in the Senate proposed under the consideration of the bill on the sole proprietor limited liability already voted by the deputies.

Can change status

Herv? Novelli, Secretary of State for Trade, Crafts and SMEs, has vigorously fought the amendment, which requires self-contractors to make a "statement of work" regardless of the amount of turnover and wants to "limit to three years the benefit of this scheme for the micro-specific self-contractors who work primarily.

Determined to "put an end once and for all the untruths," it quoted a study of the Order of Accountants demonstrating that self-pay business expenses that substantially all of the other individual entrepreneurs.A trader on the internet that makes 69 000 euros annual turnover of EUR 8 966 payroll taxes if it adopts the status of self-contractor and 9 010 euros if he selects the micro-enterprise. "If there is competition, it is simply a competition simplicity. If there is a battle to be fought, it is that the extension of the simple system of self-contractor to the 1.5 million individual entrepreneurs, "he said.

Fran?ois Hurel, President of the Union of self-entrepreneurs, and Maria Nowak, President of Adie, support it. They have launched a petition against the amendment championed by Jean Arthuis. "Do not complicate a reform which shows that it works because it is simple, says Fran?ois Hurel. Do not create doubt.We must instead accompany self-entrepreneurs to enable them to change their status or plan if they wish. "

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