Roche’s 2010 net income rises 4.4% to Swfr8.9bn

02 February 2011 10:23  [Source: ICIS news]

LONDON (ICIS)--Roche posted full-year net income for 2010 of Swiss francs (Swfr) 8.9bn ($9.5bn, €6.9bn), up by 4.4% year on year, the Switzerland-based pharmaceuticals company said on Wednesday.

Growth in the group’s pharmaceuticals and diagnostics divisions compensated for the expected decline in Tamiflu sales and the effects of healthcare reforms in the US and austerity measures in Europe, Roche said.

Including sales of Tamiflu, group sales remained stable in local currencies at Swfr47.5bn. Excluding Tamiflu, sales increased 5% year on year in local currencies.

“The group results are solid despite an increasingly challenging market environment. Excluding Tamiflu, the pharma division grew above the market,” said Roche CEO Severin Schwan.

“Diagnostics kept its strong momentum and grew significantly ahead of the market,” Schwan added.

Looking ahead, Roche said that group and pharmaceuticals sales in 2011 were expected to grow at low single-digit rates in local currencies, reflecting the impact of US healthcare reform and European austerity measures.

($1 = Swfr0.94, €1 = Swfr1.29)

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