Roche 1st-qtr sales up 2%, on track for full year targets

Swiss drug major Roche (ROG: SIX) says it is on track to achieve 2012 sales targets, posting first quarter group sales of 11.03 billion Swiss francs ($11.98 billion), a rise of 2% at constant exchange rates (-1% in Swiss francs; +1% in US dollars) and in line with consensus expectations. Excluding Tamiflu oseltamivir), sales growth was 3%. The company does not provide profit figures at this stage.

The Pharmaceuticals Division’s sales increased 2% (-1% in Swiss francs; +1% in US dollars) to 8.6 billion francs, or up 3$ excluding flu drug Tamiflu, turnover of which dropped 24% to 187 million francs. The Diagnostics Division posted sales of 2.4 billion Swiss francs, an increase of 4% (0% in Swiss francs, +2% in US dollars). The sales figures expressed in Swiss francs reflect a negative exchange-rate impact of 3 percentage points due to the appreciation of the franc against major currencies relevant for Roche.

Pharma sales growth led by RA and cancer drugs