...November 29, 2021 PARIS (S&P Global Ratings) Nov. 29, 2021--S&P Global Ratings today said that pharmaceutical group Roche Holding AG (##/Stable/A-1+) is continuing to show strong research and development (R&D) capability with both its third-quarter results and expected product development. The company could end the year with a debt leverage ratio of close to 1.0x despite the buyback of shares owned by Novartis for about Swiss franc (CHF) 19 billion in cash. The group reported robust results in third-quarter 2021 with the pharmaceutical division's confirming it is back to growth (5%) following a negative half-year performance (3% at a constant exchange rate), which were affected by both the pandemic, particularly with lack of new patients' start in cancer care, and the biosimilar impact on three major cancer drugs that recently lost exclusivity. Year-to-date through Sept. 30, the old products' revenue declined by about CHF4 billion whereas newer product sales increased by the same amount,...
