Roche Holding AG said third-quarter sales fell 15 percent as the Swiss franc gained and revenue slowed for Avastin, the tumor drug facing withdrawal from the U.S. market for breast cancer.
Sales dropped to 9.82 billion francs ($11 billion) from 11.5 billion francs a year earlier, the Basel, Switzerland-based company said in an e-mailed statement today. That missed the 10.2 billion-franc average estimate of 15 analysts surveyed by Bloomberg. Roche doesn’t release quarterly earnings.
EQUITIES: *Julius Baer Group Ltd. said it entered a strategic collaboration agreement with Macquarie Group Ltd., according to an e-mailed statement today *Julius Baer has made a non-binding bid to buy Bank Sarasin, Handelszeitung reported, citing an unidentified Zurich-based investment banker *Raiffeisen group may also make a bid for Sarasin, Tages-Anzeiger said *SIX Exchange Regulation said it’s starting an investigation against Credit Suisse Group AG on the grounds of possible breaches of the rules governing the disclosure of management transactions *Xstrata is seeking a $5 billion loan to refinance a deal maturing next year, said two people familiar with the situation
ECONOMICS/POLITICS *The Swiss People’s Party could win the Oct. 23 elections with 29.3 percent of the vote, a poll showed *Producer and import price data at 9:15 a.m.
MARKETS: *The SMI climbed 0.9 percent to 5,781.13 *The SPI rose 0.9 percent to 5,227.36 *The Stoxx Europe 600 Index increased 1.7 percent to 239.16 *The MSCI Asia-Pacific Index rose 1.4 percent at 07:21 a.m. Zurich time *Euro-franc traded at 1.23723 at 07:22 a.m. Zurich time