Roche half-year profit rises 37% on strong sales

Roche half-year profit rises 37% on strong sales
AP
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First Published: Thu, Jul 22 2010. 12 54 PM IST
Updated: Thu, Jul 22 2010. 12 54 PM IST
Geneva: Pharmaceuticals maker Roche Holding AG on Thursday posted a 37% rise in six-month net profit on strong drug sales and lower costs related to its takeover of US-based Genentech.
The Basel-based company said income was 5.6 billion Swiss francs ($5.3 billion). Sales jumped 5% to 24.6 billion francs.
Roche, which doesn’t announce quarterly profits, also confirmed its full-year outlook despite disappointing sales of antiviral Tamiflu as swine flu fears eased.
Tamiflu sales should reach only 1 billion francs in 2010, from 3.2 billion francs a year ago.
Earnings were boosted by the integration of Genentech, which Roche acquired for $46.8 billion in March 2009. Last year’s earnings suffered from exceptional charges linked to the acquisition.
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First Published: Thu, Jul 22 2010. 12 54 PM IST
More Topics: Company results | Roche | Drugmaker | Pharma | Earnings |