Y 17.8 17.4 17.4 15.9 16.1 15.2 Dividend Yield FY 3.1% 3.1% 3.2% 3.2% 3.4% 3.6% Source: Company data. Bloomberg. It Morgan estimates. Europe Equity Research 28 April 2014 Overweight ROG.VX, ROG VX Price: St 254.1;0 Price Target: SF280.00 European Healthcare (Pharma, Biotech) Richard Vosser AC Bloo