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Roche Sales Miss Estimates as Franc Gains, Avastin Falls

Roche Holding AG reported third-quarter sales that missed analysts’ estimates, falling 15 percent as the Swiss franc gained and revenue of its top three medicines declined.

Sales dropped to 9.82 billion francs ($11 billion), 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. Excluding currency swings, sales were little changed.