Bloomberg Actelion Ltd. Chief Executive Officer Jean-Paul Clozel is known for his faith in the Swiss drugmaker’s experimental medicines, an optimism that may have helped scuttle a deal with Johnson & Johnson. New suitor Sanofi has the perfect negotiating tool. The French company’s takeover offer may include a contingent value right, or CVR, worth about $20 of the $275 …

  London / AFP Europe’s main stock markets dropped on Wednesday, with focus once more on Italian bank Monte dei Paschi, whose shares tumbled on fading hopes that it will avoid a state bailout. Around 1115 GMT, London’s benchmark FTSE 100 index was down 0.2 percent compared with the close on Tuesday. In the eurozone, Frankfurt’s DAX 30 slipped 0.1 …

  DUBAI / Reuters Saudi Arabia’s stock market rose on Wednesday on the eve of the government’s release of its 2017 budget, and Egypt’s extended a bull run fuelled by for- eign money and last month’s float of the Egyptian pound. The Saudi stock index climbed 0.4 percent, though trading volume shrank to its lowest level in two months as …