Roche Reaffirms Genentech Offer

Roche, the Swiss drug maker, reaffirmed its commitment to its takeover offer for Genentech(DNA Quote) as it reported Tuesday that nine-months group sales, including Tamiflu sales, totaled 33.3 billion francs, an increase of 6% in local currencies and 13% in U.S. dollars, and a decline of 2% in Swiss francs.

Group sales rose 10% in local currencies, excluding Tamiflu pandemic sales, in the first nine months of the year.

The company also confirmed its full-year outlook, saying that excluding Tamiflu pandemic sales to governments and corporations it anticipates a high single-digit increase in group sales and core per-share earnings to remain in line with 2007 results. ...