Roche's new drugs will replace lost sales: Schwan

Roche Chief Executive Severin Schwan said new drugs the pharma company is developing will replace the roughly 10 billion Swiss francs ($9.97 billion) lost from old cancer drugs.

Roche's three best-selling drugs - all for cancer - had combined sales of $21 billion last year, accounting for 40 percent of the company’s overall sales.

But the drugs - Rituxan, Herceptin, and Avastin  - now face a steep decline due to cheap near-copies, known as biosimilars, made by rivals including Switzerland's Novartis and South Korea's Celltrion

"We have five, six cancer products potentially worth billions (of Swiss francs)," Schwan said

"In addition to multiple sclerosis, there are also new drugs for haemophilia or nerve diseases. In sum, they will replace the lost sales." He further stated.