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4-Traders Homepage  >  Equities  >  Swiss Exchange  >  Roche Holding Ltd.    ROG   CH0012032048

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Roche : Aspen welcomes decision to drop price probe

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10/06/2017 | 12:52pm CEST

Aspen yesterday welcomed the Competition Commission`s decision to drop the excessive pricing investigations against it and agent Equity.

The commission yesterday halted its probe, charging that it could not sustain a case of excessive pricing against it.

However, it said its investigations into Roche, US-based technology company Genentech and Pfizer were continuing. Aspen chief executive Stephen Saad said the decision to investigate was expeditious and co-operative.

The decision follows the commissions initiation of investigations against Aspen, Roche, Genentech, Pfizer and Equity in June for suspected abuse of dominance and excessive pricing in the provision of specific cancer medicines in South Africa. When the commission announced the probe, Commissioner Tembinkosi Bonakele said the anti-graft agency had identified the health-care sector, and in particular pharmaceuticals, as a priority sector for its enforcement efforts due to the likely negative impact that anti-competitive conduct in that sector would have on consumers in general and specifically the poor and vulnerable.

Yesterday, the commission said the Aspen probe revealed that the revenue attributable to Myleran, Alkeran and Leukeran was low as the products were at the end of their lifespans. In respect of Equity, the investigation revealed that the drug, Xalkori Crizotinib, is not yet registered in South Africa. It was imported once with the permission of the Medicines Control Council. The high price charged by Equity was as a result of high cost incurred in importing the product from Germany, the commission said.

(c) 2017 TBREAK MEDIA. ALL RIGHTS RESERVED. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials ( CHF)
Sales 2017 53 455 M
EBIT 2017 18 264 M
Net income 2017 11 176 M
Debt 2017 9 903 M
Yield 2017 3,50%
P/E ratio 2017 18,25
P/E ratio 2018 16,61
EV / Sales 2017 4,16x
EV / Sales 2018 3,91x
Capitalization 212 B
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Mean consensus OUTPERFORM
Number of Analysts 30
Average target price 275  CHF
Spread / Average Target 12%
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Managers
NameTitle
Severin Schwan Chief Executive Officer & Executive Director
Christoph Franz Chairman
Alan Hippe Chief Financial & Information Technology Officer
John Irving Bell Non-Executive Director
Andreas Oeri Independent Non-Executive Director
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