Roche Raises 2019 Sales View After 1Q Sales Beat
April 17 2019 - 1:42AM
Dow Jones News
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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