Maintaining Our Fair Value for Roche; Cancer and Immunology Pipeline Outweighs Biosimilar Threat
Roche’s 3% top-line growth in the third quarter was weighed down by weaker 2% pharmaceutical sales growth (reserves for the U.S. 340B program impacting Avastin, Rituxan, and Herceptin), but strong 8% growth in diagnostics helped offset the impact, and we’re maintaining our fair value estimate as our long-term thesis remains intact. Shares look significantly undervalued at recent prices, and we still forecast core EPS growth ahead of sales growth for the full year (in line with management’s forec...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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