Roche posts 7 percent sales growth

16th April 2009, Comments 0 comments

The Swiss pharmaceutical giant reports first quarter growth, driven by sales of its cancer drugs.

ZURICH - Swiss pharmaceutical giant Roche said Thursday sales rose 7.0 percent to CHF 11.6 billion (EUR 7.67 billion, USD 10.13 billion) in the first quarter of 2009, surpassing the global market.

The Basel-based group said sales at its pharmaceutical division grew 8.0 percent to CHF 9.21 billion, driven by its drugs for cancer, inflammation and eye disease.

Sales at its diagnostics division also rose 3.0 percent to CHF 2.36 billion.

Roche chief executive Severin Schwan said, "Sales in both divisions continued to grow significantly faster than their respective markets. We are therefore confident that we can achieve our full-year targets."

He added that the group would update its full-year outlook when it reported its first-half results in July to include the impact of the group's buyout of US biotechnology unit Genentech.

Roche in March agreed to pay USD 46.8 billion to take full control of Genentech.

AFP / Expatica

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