Roche 1st-qtr 2011 sales in line with consensus forecasts
Swiss drug major Roche (ROG: VX) has reported first-quarter 2011 sales in-line with consensus estimates, and reiterated guidance for fiscal year 2011. Group sales stable in local currencies (-9% in Swiss francs; +2% in US dollars) were 11.1 billion Swiss francs ($12.18 billion) in first three months of 2011. Excluding flu drug Tamiflu (oseltamivir), which slumped 47% year-on-year to 252 million francs, group sales rose 2% (-7% in Swiss francs, +4% in US dollars). Roche did not publish earnings at this point.
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