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Roche Q3 Group Sales Down, Confirms FY20 View; To Raise Dividend

Swiss drug maker Roche Group (RHHBY)reported Thursday that third-quarter group sales were 14.70 billion francs, down from 15.60 billion francs last year. Sales grew 1 percent at constant currency rates.

In the Diagnostics Division sales grew 18 percent on a constant currency rate to 3.58 billion francs, with COVID-19 testing as the main contributor.

Sales in the Pharmaceuticals Division decreased 4 percent at constant rates to 11.12 billion francs.

Europe sales grew 2 percent, but sales in the US decreased 5 percent, in Japan by 13 percent and international sales fell 2 percent.

Nine-month group sales declined 5 percent on a reported basis to 43.98 billion Swiss francs from last year's 46.98 billion francs. However, group sales increased 1 percent at constant exchange rates, with significant impact of COVID-19 pandemic.

Looking ahead, the company confirmed its fiscal 2020 outlook. Sales are expected to grow in the low- to mid-single digit range, at constant exchange rates. Core earnings per share are targeted to grow broadly in line with sales, at constant exchange rates.

Roche expects to increase its dividend in Swiss francs further.

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