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Roche Beats Forecasts on New Drugs and One-Off Gain

By Ludwig Burger BASEL, Switzerland (Reuters) – Switzerland's Roche beat market expectations for adjusted net income in the first six months of the year, helped by cancer drug sales but also inflated by a one-off gain from its pensions scheme. Core earnings per share, adjusted for certain items, rose 7 percent to 7.74 Swiss francs ($7.86), where analysts had expected 7.52 francs on average. Deutsche Bank analyst Tim Race said that excluding that effect, results were broadly in line with expectations.

Philips to buy medical device maker Volcano for $1.2 billion

AMSTERDAM (Reuters) – Philips has agreed to acquire U.S.-based medical device maker Volcano Corp for $1.2 billion including debt, its largest healthcare acquisition in seven years and an effort to cash in on more complex treatments for an aging population. Philips said the acquisition would lead to synergies in research and development and sales, and would add to Philips' earnings per share by 2017. The offer, a public tender of $18 per share, is at a premium of about 57 percent to Volcano's closing price on Tuesday. …