Roche Holding Ltd. (ADR) (OTCMKTS:RHHBY) enjoyed a very quiet day yesterday and managed to close at the end of the last trading session with a minor loss of 0.15% only but not before facing a bit of rejection from the recent swing high levels. The volume of the day at 946,000 was just higher than the daily average of 913,000, providing no particular clue about the possible course of action in the coming days. The stock has been rallying for the last few days, contained in a perfect channel so far but the overlapping nature of the price action keeps the downside risk open.
Excellent market conditions favored Roche Holding Ltd. (ADR)(OTCMKTS:RHHBY) and helped it report excellent hike of 6% in its combined sales figures for the first nine months of 2015. As per the reports, the group sales increased 6% at constant exchange rate, while 2% if Swiss francs is taken into consideration.
Insights on Matter
There are numerous factors that helped the company attaining this level; however, the growth shown by Esbriet, Avastin, and HER2-positive breast cancer medicines, topped the chart. An overall Pharmaceuticals Division sale was up 6 percent. Just like Pharmaceuticals division, Diagnostics Division also performed well and recorded a net hike of 6% in the sales during the first nine months. Three major driving forces behind its excellent growth include Professional Diagnostics, Tissue Diagnostics, and Molecular Diagnostics.
Based on the financial results achieved during the first nine months, Roche increased the outlook for the entire year. It also presented positive phase-3 data on ocrelizumab, the first medicine that can be used for primary progressive forms of MS or multiple sclerosis. It also launched EGFR Mutation Test v2 during the first nine months of 2015. It’s the first liquid biopsy PCR test that Roche has ever launched.
It’s the seventh consecutive year when Roche has been ranked as the most sustainable healthcare company in the DJSI or Dow Jones Sustainability Indices.
The senior management team of the company is delighted to announce these results and hopes that Roche will continue to live up to customers’ expectations in the future as well. According to Severin Schwan, CEO, Roche, as the sales of Roche continues to grow, it has decided to uplift its outlook for the entire year. Excellent feedback is coming from company’s product pipeline; thereby future looks much brighter than many forecasted.
A couple of medicines introduced by the company, including atezolizumab and ocrelizumab, have the potential to change the way medical science is perceived forever.