14 April 2011 10:29 [Source: ICIS news]
LONDON (ICIS)--Roche’s first-quarter sales remained stable in local currencies at Swiss francs (Swfr) 11.1bn ($12.3bn, €8.6bn), but fell 9% year on year in Swiss francs due to the impact of a negative exchange rate, the Switzerland-based pharmaceuticals company said on Thursday.
The negative exchange rate was primarily due to significant weakening of the US dollar and euro against the Swiss franc. In US dollars, sales were up by 2%, the company added.
Excluding the anti-viral drug Tamiflu, Roche's first quarter sales were up by 2% year on year (in Swiss francs sales fell 7% and in US dollars rose 4%).
Looking at the full year of 2011, Roche said that group and pharmaceuticals sales (excluding Tamiflu) in 2011 are expected to grow at low single-digit rates. Its diagnostics business will grow significantly above market, with core earnings per share to grow at a high single-digit rate.
($1 = Swfr0.90, €1 = Swfr1.29)
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