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Swiss drug maker Roche Holding AG has reported a 9 percent drop in first quarter sales due to the weakness of the U.S. dollar and euro against the franc.

Roche says sales were stable in local currencies.

Its best-selling anti-influenza drug Tamiflu also experienced a sharp drop in orders year-on-year.

Roche said Thursday that sales fell to 11.12 billion Swiss francs ($12.4 billion) from 12.25 billion a year earlier.

The company reports earnings only every six months.

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