Roche Holding quarterly sales slip 3%
SYDNEY (MarketWatch) — Swiss pharmaceutical giant Roche Holdings AG said Thursday that its third-quarter sales declined 3% to 11.49 billion Swiss francs ($12.1 billion) as it stuck to its fiscal-year outlook. Pharmaceutical sales slipped to 9.0 billion francs, from 9.9 billion francs in the year-ago period. Tamiflu sales dropped 90% to 98 million francs in the quarter. In the firm’s cancer portfolio, Herceptin sales climbed 8% to 1.36 billion francs and Avastin sales rose 7% to 1.6 billion francs. “Based on our performance to date, we expect to achieve our targets for 2010. Our group-wide review of structures and processes as part of the operational excellence initiative is on track,” said CEO Severin Schwan.
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