Tuesday October 16, 11:20 AM
Roche says 9-month sales up 12 percent
BASEL, Switzerland (AFP) - Swiss pharmaceuticals giant Roche (Virt-X: ROG.VX - news) on Tuesday announced a 12-percent jump in sales to 33.9 billion Swiss francs (20.2 billion euros, 28.7 billion dollars) in the first nine months of 2007, when demand for its anti-cancer treatments offset a decline in sales of Tamiflu.
The results were just slightly below forecasrs from analysts questioned by Thomson Financial, who had foreseen sales in the period of 34.22 billion Swiss francs.
Despite a decline in third quarter sales of Tamiflu, developed as a weapon against bird flu, Roche confirmed its overall forecast for double digit sales for all of 2007.
Roche chief executive Franz Humer nevertheless welcomed the results.
"With its strong 9-month sales growth of 12%, the Roche Group continues to outperform the market," he said.
While the group said all regions had contributed to higher sales, growth was particularly strong in the Asia-Pacific (002790.KS - news) region, at 18 percent.
Roche said said it enjoyed strong sales in its anti-cancer line, Avastin, Herceptin, Xeloda and Rituxan, which now account for half the turnover in the pharmaceutical division.
Roche shares were nonetheless showing a loss of 2.72 percent at 210.80 Swiss francs on the Swiss Market Index at mid-day.
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