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Τετάρτη 30 Νοεμβρίου 2011

Eurozone fears have drugmakers re-strategizing


As European bond sales falter and negotiations go down to the wire, drugmakers are among the companies preparing for the worst. As Reuters reports, businesses of all stripes are weighing scenarios--including the worst-case prospect of a eurozone breakup. They're moving assets to the "safest" banks, reviewing their 2012 budgets for the region, buying U.S. Treasury bills, and stepping up their currency-hedging efforts. But it's more than moving money around. Contracts weren't written with a euro collapse in mind; some might need replacing.