January 30, 2020 / 7:03 AM / a month ago

BRIEF-Roche Q4 China Sales Fell Amid Inventory Cuts, Sees 2020 Double-Digit Growth

Jan 30 (Reuters) - Roche Holding AG:

* ROCHE CEO SAYS IMPACT OF BIOSIMILARS ON HERCEPTIN, RITUXAN IS "WASHING OUT" IN EUROPE, WHERE ROCHE IS RETURNING TO GROWTH, SEES AVASTIN BIOSIMILARS HIT STARTING LATER THIS YEAR

* ROCHE CEO SAYS CHINA DECLINED IN THE FOURTH QUARTER, AS THE COMPANY REDUCED INVENTORY LEVELS IN DISTRIBUTION CHAIN IN PHARMA, DIAGNOSTICS, SAYS UNDERLYING DEMAND REMAINS STRONG AND EXPECTS CONTINUED DOUBLE DIGIT GROWTH IN 2020

* ROCHE CEO SAYS CHINA DECLINED IN THE Q4, AS THE COMPANY REDUCED INVENTORY LEVELS IN DISTRIBUTION CHAIN IN PHARMA, DIAGNOSTICS, SAYS UNDERLYING DEMAND REMAINS STRONG AND EXPECTS CONTINUED DOUBLE-DIGIT GROWTH IN 2020

* ROCHE CEO SAYS EXPECTS TO GET SIGNIFICANT SHARE OF SPINAL MUSCULAR ATROPHY MARKET WITH RISDIPLAM, ITS ORAL MEDICINE WITH A MAY 24 FDA DECISION DATE

* ROCHE CEO SAYS CORONOVIRUS AFFECTS ROCHE, EMPLOYEES LIKE ANY OTHER COMPANY OPERATING IN CHINA, SAYS HAS REDUCED TRAVEL TO "ABSOLUTE MINIMUM" AND INCREASED WORKING FROM HOME, SAYS WAS FIRST COMPANY TO PROVIDE TEST FOR VIRUS

* ROCHE CEO SAYS ISOLATION OF CITIES HAS MADE IT MORE DIFFICULT TO BRING DIAGNOSTIC TOOLS TO POINT OF CARE, WORKING WITH OFFICIALS TO OVERCOME HURDLES

* ROCHE CEO SAYS DRUG INDUSTRY, ROCHE IS LESS EXPOSED TO BUSINESS INTERRUPTIONS FROM CORONAVIRUS BECAUSE OF SPECIALIZED PRODUCTS, COMPARED TO OTHER INDUSTRIES Source text for Eikon: Further company coverage: (Reporting by John Miller)

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