Roche 1st-qtr sales top expectations

Swiss pharma giant Roche (ROG: SIX) posted first-quarter 2017 sales figures this morning, reporting revenues up 4% (in both francs and constant exchange rates) at 12.94 billion Swiss francs ($13.03 billion) and beating the 12.704 francs average forecasts of analysts polled by Reuters.

However, shares of Roche, the world’s leading manufacturer of cancer drugs, which does not release profit figures at the quarterly stage, were barely changed, rising just 0.3% to 258.50 francs in early trading.

In 2017, Roche expects sales to grow in low- to mid-single digit figures, at constant exchange rates. Core earnings per share are targeted to grow broadly in line with sales, at constant exchange rates. Roche expects to further increase its dividend in Swiss francs.