UPDATE 3-Actelion Q3 beats forecasts, raises guidance

* Actelion Q3 profit 111.8 million Swiss francs

* Forecast was 98 million

* Raises guidance for full year

* Shares rise 5.2 percent

(Adds shares, comment)

By Katie Reid and Paul Arnold

ZURICH, Oct 21 (Reuters) - Swiss biotech company Actelion Ltd (ATLN.VX) raised its full-year guidance and posted a forecast-beating 26 percent jump in third-quarter net profit, with strong sales of key drug Tracleer, boosting its shares.

Quarterly net profit rose to 111.8 million Swiss francs ($98.24 million), up 42 percent from the previous quarter. Its shares rose 5.2 percent to 58.50 Swiss francs, against a 0.5 percent gain in the European pharmaceuticals sector .SXDP.

"We expect Actelion's share price to react positively to today's results," said Nomura Code analyst Samir Devani. "Actelion reported very strong Q3 results."

Actelion, Europe's biggest biotech company, said it now expected an increase of 16 to 19 percent in total net revenues in local currency terms this year and an increase in cash earnings before interest and tax (EBIT) of between 12 and 14 percent.

The group had previously forecast revenue growth of around 15 percent and a rise of approximately 10 percent in cash EBIT.

Actelion has benefited from its promising portfolio of new drugs and potential for further growth of Tracleer, which treats a rare heart and lung disease. Its shares have made small gains this year despite market turmoil.

"I am more confident than ever that Tracleer will remain the PAH (pulmonary arterial hypertension) market leader and that Actelion will continue to generate profitable growth," Chief Executive Jean-Paul Clozel said in a statement.

Actelion, which has a cash position of more than 1 billion francs, sees possibilities for buys and licensing deals, which will be cheaper in the future as a result of the financial crisis, Clozel told Reuters in an interview.

The group has four Phase III programmes in progress and expects three of these to start reporting data in the second half of 2009.

Actelion has even outperformed traditionally defensive big pharma stocks like Novartis AG (NOVN.VX) and Roche Holding AG (ROG.VX) and, trading at about 16 times forecast 2009 earnings, commands a premium over those Swiss rivals as well as Belgian biotech UCB SA (UCB.BR).

Third-quarter sales were 394 million francs. Actelion had been expected to post net profit of 98 million francs and sales of 370 million in the third quarter, according to a Reuters poll of 11 analysts. Tracleer sales were seen at 322 million. (Editing by Quentin Bryar)