Roche: confirms outlook despite nine-month sales drop

(CercleFinance.com) - Swiss drugmaker Roche confirmed its forecast of rising sales and profit for this year despite posting lower nine-month sales, hit by the competition from biosimilars.


The world's largest maker of cancer drugs said sales fell 5% in Swiss francs in the first nine-months of the year, at 44 billion francs, due to the appreciation of the Swiss franc against most currencies.

The company said sales grew 1% at constant exchange rates in the first nine months of the year, even though sales in its pharmaceuticals division decreased by 1% to 34.3 billion francs.

But the group stuck to its outlook for 2020, and said it was aiming for sales to grow in the low- to mid-single digit range, at constant exchange rates.

Core earnings per share are targeted to grow broadly in line with sales, at constant exchange rates, it said.

Roche, which is the first major drugmaker to report quarterly results, also said that it expects to increase its dividend in Swiss francs further.

Investors, still, looked disappointed, and the Zurich-listed shares fell almost 3% in early morning trading.

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