October 13, 2011
Company news: Roche
Roche reported disappointing third-quarter sales as key cancer drugs Avastin, Rituxan and Herceptin underperformed. Avastin sales declined 24% in the third quarter, while Herceptin was down 12% and Rituxan sales slid 10%. That, coupled with currency exchange effects, caused the company to miss analyst expectations and trumped an upbeat pipeline report from the firm.