Actelion shocks with poor results

Shares in Actelion, Europe’s biggest biotech firm, fell 9.7 per cent yesterday after it posted far lower quarter revenues than expected and said the outlook for 2012 was even worse. Revenues fell seven per cent year-on-year to SwFr1.4bn (£987m), four per cent below the consensus forecast, as low sales of its flagship Tracleer hypertension drug were not made up elsewhere.