Roche Holding AG, the French drug manufacturer, observed a 1.8% rise in revenue in its third quarter due to high sales of its new cancer drugs Perjeta and Kadcyla.
With this rise, company’s shares climbed to $12.5 billion (11.8 billion Swiss francs) from the 11.6 billion francs in the last year, a report from the Basel, a Switzerland based analyst firm mentioned in a statement. This has beaten the average of analysis developed by some analysts, of 11.6 billion franc.
Revenues from the breast tumor drug Perjeta have increased by 227 percent and have reached to 245 million francs. Revenues from the drug Kadcyla, also for breast cancer have more than doubled and reached a value 144 million francs.
Sales of Roche’s pharmaceutical division have increased by 4 percent, while those of the company’s diagnostics division have increased by 7 percent, at constant exchange rates.
If demand swings are overlooked, the company gained 5 percent profits. The company has forecast that it will observe increased sales this year at a low to mid single digit rate of percent, excluding currency swings. Company’s core earnings per share are targeted to increase ahead of sales, and the company expects to increase its dividend.
Among the other blockbuster medicines sold by Roche, its Rituxan for leukemia observed growth by 1% and currently values 1.76 billion francs, while the drug Avastin for treating tumor increased by 6 percent and values 1.65 billion francs.
Esbriet, a new Roche drug has been approved yesterday by the U.S. FDA. This drug is one of the two medicines in the U.S. that serve to treat idiopathic pulmonary fibrosis, a deadly lung disease.