Record global sales of swine-flu treatment Tamiflu have helped Roche restrict the fall in six-month net profits to 29 per cent after its takeover of Genentech.
Sales of anti-cancer drugs also helped profits top of 4 billion Swiss francs (£2.3 billion) compared with 5.7 billion francs last year. Net income excluding exceptionals was up 11 per cent at 5.2 billion francs.
Geneva broker Helvea says that operating profits before exceptionals were 8 per cent higher than expectations, with group sales up 9 per cent to 24 billion francs, causing shares to close 3.2 per cent up at 159.40 francs on the Zurich exchange.
Says a Zuercher Kantonalbank analyst: “Roche stands out as one of the very few drug companies with a high growth in sales, which significantly beats the 3-4 percent average of the pharmaceutical industry.”
Copyright Press Association 2009