Swiss pharmaceuticals company Roche posted a rise in first-quarter sales but failed to meet market expectations as a strong Swiss franc hit results.
However, chief executive Severin Schwan told CNBC that while foreign exchange was a big risk for Roche, a new line of breast cancer treatment would help strengthen the company.
Group sales in the quarter rose 5 percent to 11.496 billion Swiss francs ($13.057 billion) the company said. This was below predictions in a Reuters poll of 11.887 billion Swiss francs.
Sales at its pharma unit also came in below expectations at 9.04 billion Swiss francs against an estimate for 9.375 billion Swiss francs.