Roche reports 5% rise in Q1 sales boosted by cancer drugs
Oncology drug maker Roche (VTX: ROG) on Tuesday reported 5% increase in first-quarter sales driven by cancer drugs.
The company reported sales for the three months to March 31 rose 5% to 12.41 billion Swiss francs ($12.88 billion) against 11.83 billion francs a year ago. At constant exchange rates, sales rose 4%.
Sales in the pharmaceuticals unit rose to 9.8 billion francs from 9.32 billion francs a year earlier, the company said. Revenue from the diagnostics unit grew to 2.61 billion francs, from 2.51 billion francs a year ago. Roche doesn’t report earnings at the quarterly stage of the year.
Roche chief executive Severin Schwan said: “We have started the year with solid growth in both our Pharmaceuticals and Diagnostics Divisions. The marketing applications of important investigational medicines are well underway. The FDA granted priority review for atezolizumab in two indications and breakthrough therapy designation for ocrelizumab in primary progressive multiple sclerosis. Overall, we are on track to meet our full-year targets for 2016.”
Basel, Switzerland-based company said for 2016 it sees sales to grow low- to mid-single digit at constant exchange rates. Core earnings per share are targeted to grow ahead of sales at constant exchange rates. Roche said it expects to further increase its dividend in Swiss francs.
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