Positive results from seven key clinical trials
In the first quarter Roche announced positive results from seven key clinical trials, six of which are expected to support marketing applications for new medicines or additional indications for existing products:
- vemurafenib (metastatic melanoma)
- vismodegib (basal cell carcinoma)
- Avastin (ovarian cancer)
- Tarceva (EGFR-positive non-small cell lung cancer)
- Lucentis (diabetic macular edema - two studies)
- Trastuzumab emtansine (T-DM1; HER2-positive metastatic breast cancer)
Including these latest studies, 18 of the Group's phase II or phase III trials have achieved positive results since last October. Roche and Genentech plan to submit the results of a number of these trials for presentation at medical meetings during 2011.
Full-year targets confirmed
Based on its first-quarter sales, Roche confirms its full-year outlook for 2011: Barring unforeseen events, Group and Pharmaceuticals sales (excluding Tamiflu) are expected to grow at low single-digit rates in local currencies, reflecting the impact of US healthcare reform and European austerity measures. Pharmaceuticals sales are thus expected to grow in line with the market. In 2011 Diagnostics sales are again expected to grow significantly ahead of the market, driven by further rollout of new products in all business areas. In spite of a more challenging environment and the introduction of an excise tax in the United States, Roche aims for Core Earnings per Share to grow at a high single-digit rate at constant exchange rates in 2011. Roche aims to increase the dividend in line with Core Earnings per Share. Based on the strong operating free cash flow, Roche expects to reduce debt progressively and to return to a net cash position by 2015.
Headquartered in Basel, Switzerland, Roche is a leader in research-focused healthcare with combined strengths in pharmaceuticals and diagnostics. Roche is the world’s largest biotech company with truly differentiated medicines in oncology, virology, inflammation, metabolism and CNS. Roche is also the world leader in in-vitro diagnostics, tissue-based cancer diagnostics and a pioneer in diabetes management. Roche’s personalised healthcare strategy aims at providing medicines and diagnostic tools that enable tangible improvements in the health, quality of life and survival of patients. In 2010, Roche had over 80’000 employees worldwide and invested over 9 billion Swiss francs in R&D. The Group posted sales of 47.5 billion Swiss francs. Genentech, United States, is a wholly owned member of the Roche Group. Roche has a majority stake in Chugai Pharmaceutical, Japan.