Swiss drugmaker Roche sees medicines in its own pipeline driving sales growth ov...
) sees medicines in its own pipeline driving sales growth over the longer term, Chief Executive Severin Schwan told Reuters on Friday, adding he will not pursue takeovers simply to keep revenue rising.
Roche has twice upgraded 2019 sales forecasts, the latest time to mid- to high-single-digit percentage rate growth, as medicines including Ocrevus for multiple sclerosis and Hemlibra for haemophilia A offset incursions by rivals’ copies of its $22 billion-per-year cancer trio Herceptin, Rituxan and Avastin.
Roche shares have risen 11% this year, lagging the 20% gain of the Stoxx European Health Care Index .SXDP, as investors continue to worry about rivals’ copies taking market share in Europe and increasingly in the United States, Bank Vontobel analysts said in an Aug. 30 note.“I don’t think it’s a wise strategy in the long term to fill a growth gap by M&A,” he said. “If you start filling gaps, you run the risk that you overpay or you take on board assets which do not fit strategically.
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