May be Erbitux took market shares...just guessing (lol)
Roche Q1 sales fall 9 pct to 11.1 billion Swiss francs
* Trails average estimate of 11.36 bln Sfr in Reuters poll
* Drugmaker confirms 2011 outlook
* Roche stock trades 1 pct lower, underperforms sector
By Katie Reid
ZURICH, April 14 (Reuters) - Demand for Roche's (ROG.VX) key cancer drug Avastin fell further in the first quarter, adding to the Swiss drugmaker's woes as it grapples with a slump in Tamiflu revenue and a push by governments to cut health costs.
Avastin, which is used to treat a range of tumours, has been hit by moves from healthcare authorities on both sides of the Atlantic to curb its use in breast cancer.
The overall sales weakness combined with a strong Swiss franc and uncertainty surrounding key eye drug Lucentis are casting a shadow over the outlook for Roche, which is already slashing costs after a string of product setbacks.
But the group stuck to its outlook for 2011 and said it was aiming for for core earnings per share growth at a high single-digit rate at constant exchange rates.
Group and pharmaceuticals sales, excluding Tamiflu, are seen growing at low single-digit rates in local currencies.
First-quarter sales slipped 9 percent in Swiss francs to 11.1 billion Swiss francs ($12.38 billion), missing the average estimate of 11.36 billion in a Reuters poll as Avastin sales fell 6 percent in local currencies to 1.4 billion francs.
Rheumatoid arthritis drug Rituxan, also known as MabThera, replaced Avastin as Roche's top-selling drug this quarter as sales of the treatment rose 7 percent in local growth rates to 1.6 billion francs.
--Reuters (update-4)
Roche Q1 sales fall 9 pct to 11.1 billion Swiss francs
* Trails average estimate of 11.36 bln Sfr in Reuters poll
* Drugmaker confirms 2011 outlook
* Roche stock trades 1 pct lower, underperforms sector
By Katie Reid
ZURICH, April 14 (Reuters) - Demand for Roche's (ROG.VX) key cancer drug Avastin fell further in the first quarter, adding to the Swiss drugmaker's woes as it grapples with a slump in Tamiflu revenue and a push by governments to cut health costs.
Avastin, which is used to treat a range of tumours, has been hit by moves from healthcare authorities on both sides of the Atlantic to curb its use in breast cancer.
The overall sales weakness combined with a strong Swiss franc and uncertainty surrounding key eye drug Lucentis are casting a shadow over the outlook for Roche, which is already slashing costs after a string of product setbacks.
But the group stuck to its outlook for 2011 and said it was aiming for for core earnings per share growth at a high single-digit rate at constant exchange rates.
Group and pharmaceuticals sales, excluding Tamiflu, are seen growing at low single-digit rates in local currencies.
First-quarter sales slipped 9 percent in Swiss francs to 11.1 billion Swiss francs ($12.38 billion), missing the average estimate of 11.36 billion in a Reuters poll as Avastin sales fell 6 percent in local currencies to 1.4 billion francs.
Rheumatoid arthritis drug Rituxan, also known as MabThera, replaced Avastin as Roche's top-selling drug this quarter as sales of the treatment rose 7 percent in local growth rates to 1.6 billion francs.
--Reuters (update-4)