Roche 3Q Sales Increase on Strong Performance of Recently Launched Drugs
Roche Holding AG (ROG.EB) said on Thursday that third-quarter sales increased 4.9% on continued strong sales of recently launched drugs.
The Swiss health-care company reported third-quarter sales of 13.09 billion Swiss francs ($13.35 billion), compared with CHF12.48 billion a year earlier.
According to a Factset survey, analysts expected group sales for the quarter of CHF13.12 billion.
Revenue at Roche's pharmaceuticals division, which accounts for more than three-quarters of sales, increased to CHF10.12 billion, from CHF9.68 billion a year earlier. Revenue in its diagnostics division rose 6.1% to CHF2.98 billion.
Sales of three recently launched drugs, Ocrevus, Tecentriq and Alecensa accounted for more than half of the pharmaceutical division's growth.
The company confirmed its full-year outlook of mid-single-digit sales growth at constant exchange rates, with earnings per share expected to grow in line with sales. Roche said it continues to expect further increases to its dividend.
"Based on the strong sales growth of our pharmaceuticals and diagnostics divisions in the first nine months, I am confident that we will achieve our full-year targets. The growth is largely driven by new product launches," said Chief Executive Severin Schwan.
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(END) Dow Jones Newswires
October 19, 2017 01:52 ET (05:52 GMT)