Roche Raises 2019 Sales View After 1Q Sales Beat

Date : 04/17/2019 @ 5:42AM
Source : Dow Jones News
Stock : Roche Holding (QX) (RHHBY)
Quote : 38.48  0.05 (0.13%) @ 8:01PM

Roche Raises 2019 Sales View After 1Q Sales Beat

Roche Holding (QX) (USOTC:RHHBY)
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   By Donato Paolo Mancini 
 

Roche Holding AG (ROG.EB) on Wednesday raised its yearly sales outlook after first-quarter sales beat analysts' expectations.

Sales for the quarter came in at 14.83 billion Swiss francs ($14.73 billion), or an 8% on-year increase. No other income statement metrics are available with first-quarter results.

Key growth drivers were multiple-sclerosis drug Ocrevus and cancer drugs Perjeta and Tecentriq, as well as hemophilia drug Hemlibra, the Basel, Switzerland-based drug giant said. The uptake of these new drugs offset the decline of legacy products such as Herceptin and MabThera/Rituxan.

Roche raised its 2019 sales outlook, and now sees sales growing in the mid-single-digit range. It also expects to increase its Swiss franc dividend. It previously expected sales to grow in the low- to mid-single-digit range at constant exchange rates.

The Swiss drug giant was expected to post sales of CHF14.23 billion, according to a consensus estimate compiled by FactSet.

 

Write to Donato Paolo Mancini at donatopaolo.mancini@dowjones.com; @donatopmancini

 

(END) Dow Jones Newswires

April 17, 2019 01:27 ET (05:27 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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