Roche Holdings Ltd.
) recently reported sales results for the first nine months of
2012. The company's revenues for the first nine months of 2012
climbed 4% from the year-ago period, driven by growth in both its
segments - Pharmaceuticals Division and Diagnostics Division.
All growth rates mentioned below are on a year-on-year basis and
at constant exchange rates.
Sales for the Pharmaceuticals Division climbed 4%, driven by
strong sales of MabThera/Rituxan (up 10%), Avastin (up 6%) and
Herceptin (up 12%). Pegasys (up 18%), Xeloda (up 10%) along with
recently launched Zelboraf, Erivedge and Perjeta also added to
the division's revenues.
Revenues from the Diagnostics Division went up 4%, attributable
primarily to a 15% increase in the Tissue Diagnostics segment, a
9% rise in the Professional Diagnostics segment and a 4% jump in
the Molecular Diagnostics segment.
2012 Outlook Reiterated
The company reiterated its forecast for 2012. Roche continues to
expect total revenue and revenue from the Pharmaceuticals
Division to grow in the low-to-mid single digits in 2012. Sales
from the Diagnostics segment are expected to surpass market
growth. Moreover, Roche anticipates earnings to experience high
single-digit growth in 2012 despite the unfavorable market
Roche received positive results on 11 of its 14 late-stage
candidates in the first nine months of 2012. In August 2012,
Roche filed for approval of its HER2-positive metastatic breast
cancer treatment, trastuzumab emtansine (T-DM1), in the US as
well as Europe. The approval of T-DM1 will strengthen Roche's
HER2 franchise. Roche has partnered with
) for the candidate.
The company also noted that due to slower-than-expected
enrollment in the phase III trial of ocrelizumab for multiple
sclerosis, the filing is expected in 2015. The company plans to
file for approval of lebrikizumab in after 2016.
In the fourth quarter of 2012, Roche plans to initiate a phase
III trial evaluating the combination of the MEK inhibitor (RG
7421) and Zelboraf BRAF mutation-positive metastatic melanoma.
Further the company intends to initiate two phase III trials with
aleglitazar for reducing cardiovascular morbidity and mortality
in high-risk patients with type II diabetes during this period.
Roche currently carries a Zacks #1 Rank (short-term Strong Buy
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