Roche Third-Quarter Sales Rise 1.8% on Sales of New Medicines
Oct. 16 (Bloomberg) — Roche Holding AG said third-quarter sales rose 1.8 percent, boosted by sales of its newer cancer medicines.
Sales climbed to 11.8 billion Swiss francs ($12.5 billion) from 11.6 billion francs a year earlier, the Basel, Switzerland- based company said in a statement today. That beat the 11.6 billion-franc average of six analysts’ estimates compiled by Bloomberg.
Revenue from the breast-cancer medicine Kadcyla more than doubled at constant exchange rates to 144 million francs while Perjeta, also for breast tumors soared 227 percent to 245 million francs. The company’s best-selling product, Rituxan for leukemia, climbed 1 percent to 1.76 billion francs. Sales in Roche’s pharmaceutical division climbed 4 percent at constant exchange rates, while revenue in diagnostics increased 7 percent.
“Demand for our products is strong in both divisions and we are well on track to reach our full-year targets,” Chief Executive Officer Severin Schwan said in the statement.
Roche reiterated its forecast for low- to mid-single-digit growth in sales this year at constant exchange rates. Core earnings per share is targeted to grow ahead of sales, and Roche expects to increase its dividend.
Roche doesn’t release quarterly earnings. A conference call with reporters is scheduled for 8 a.m. Basel time today, and the company plans a call with investors at 2 p.m.
To contact the reporter on this story: Phil Serafino in Paris at pserafino@bloomberg.net To contact the editors responsible for this story: Phil Serafino at pserafino@bloomberg.net Anjali Cordeiro
