Roche posts encouraging half year results
The Basel-based pharmaceutical and diagnostics group, Roche, has reported net profit climbed by 37 per cent in the first half to SFr5.6 billion ($5.3 billion).
Sales were up three per cent in Swiss francs to SFr24.6 billion.
Roche said that major drivers included the group’s leading cancer medicines, with sales of its oncology portofolio rising by nine per cent to SFr11.1 billion.
But it noted that the net-profit increase was primarily achieved as a result of much lower charges incurred in the full acquisition of the Genentech company in the United States in the first half of 2010 compared with 2009.
Diagnostics sales grew by seven per cent in Swiss francs, driven mainly by its Professional Diagnostics, Diabetes Care and Applied Science businesses.
Roche said it was confirming its 2010 outlook. Barring unforeseen circumstances, it expects local currency sales growth in the mid-single-digit range for the group and Pharmaceuticals Division, excluding sales of the antiviral drug Tamiflu.
For the Diagnostics Division, Roche expects to grow “significantly” above the market.
“Roche achieved a strong operating performance in the first half of 2010 despite an increasingly challenging market environment; net income for the period was up significantly,” commented Severin Schwan, the group’s chief executive.
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