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Roche posts modest third quarter sales beat as new drugs offset biosimilar hit

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By Reuters
Roche posts modest third quarter sales beat as new drugs offset biosimilar hit
FILE PHOTO: The logo of Swiss drugmaker Roche is seen at its headquarters in Basel, Switzerland February 1, 2018. REUTERS/Arnd Wiegmann   -   Copyright  ARND WIEGMANN(Reuters)

ZURICH (Reuters) – Roche’s <ROG.S> third-quarter sales rose 7 percent, above analyst forecasts, as sales of new drugs including its multiple sclerosis therapy Ocrevus helped offset the impact that rivals’ copies are having on the Swiss group’s top-selling drugs.

Third-quarter sales rose to nearly 14 billion Swiss francs (£10.7 billion), compared to the average forecast of analysts of 13.8 billion francs in a Reuters poll.

Roche confirmed on Wednesday its outlook for 2018 sales to grow at a mid-single-digit rate. Core earnings per share, including benefits from U.S. tax reform changes, would grow in the mid-teen-digit percentages.

(Reporting by John Miller; Editing by Michael Shields)