Maintaining Roche's FVE After Solid 3Q; Shares Continue to Incorporate Bearish Pipeline Projection
Roche reported third-quarter sales that slightly beat consensus expectations but were in line with our estimates, and we're adjusting our fair value estimate slightly to $42/CHF 333 to account for minor sales forecast and exchange rate changes. The third quarter was Roche's second consecutive quarter with 7% constant-currency top-line growth, driven by solid performance in both pharmaceutical (7%) and diagnostics (6%) segments. On biosimilars, we're encouraged by increased clarity on the timing ...Roche Holding is a healthcare company. Co. operates in two Divisions, Pharmaceuticals and Diagnostics. Co.'s pharmaceuticals division is comprised of two business segments Roche Pharmaceuticals and Chugai. Co.'s pharmaceuticals division provides therapies including Cotellic, in combination with Zelboraf for advanced melanoma, and Alecensa for a specific type of lung cancer. Co.'s diagnostics division consists of four business areas: Diabetes Care, Molecular Diagnostics, Professional Diagnostics and Tissue Diagnostics. Co.'s diagnostics division provides in vitro diagnostic tests, used by healthcare providers to screen, diagnose and monitor therapies.
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