Roche Gains on Genentech Findings

Michelin loses air on profit news; Germany's Merck up after a broker upgrade; plus more European stocks in the news

Switzerland: Drugs group Roche was up 5.80 Swiss francs to 126.40 francs, after the company's U.S. subsidiary Genentech (DNA ) saw the U.S. National Cancer Institute say that lung cancer patients who were given its Avastin treatment along with standard chemotherapy live longer. Genentech gained over 25% after the Avastin news. Goldman Sachs thinks that with positive data on Avastin, investor concern about the risk to current Avastin estimates from PTK787 competition from Novartis and Schering may be diminished. The bank ranks the stock in line.

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