Roche posts rise in profit in 2010

Swiss pharmaceutical group Roche has reported a four per cent increase in full-year net profit to SFr8.89 billion ($9.52 billion) in 2010.

This content was published on February 2, 2011 - 08:44 and agencies

Growth in sales of Roche's anti-cancer drugs was unable to compensate for a drop in sales of the group’s Tamiflu treatment and the surge in the Swiss franc. Full-year sales fell by three per cent to SFr47.47 billion, according to figures published on Wednesday.

Commenting on the Basel-based group’s performance, CEO Severin Schwan said the results were “solid despite an increasingly challenging market environment”.

Roche said it expects healthcare reforms in the United States and European austerity measures to dampen growth in 2011.

The group is hoping to save SFr1.8 billion in 2011 through a restructuring plan announced in November.

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