Roche Group
Group sales up 10% in local currencies to 33.2 billion Swiss francs, excluding Tamiflu pandemic sales Including Tamiflu pandemic sales, Group sales total 33.3 billion francs, an increase of 6% in local currencies and 13% in US dollars, and a decline of 2% in Swiss francs Roche confirms full-year outlook Roche reaffirms commitment to Genentech offerPharmaceuticals Division
Sales advance 10% in local currencies* — twice the global market growth rate Growth driven by key products in oncology, autoimmune, virology, metabolism/bone and transplantation portfolios Promising launch of Actemra for rheumatoid arthritis in Japan, Roche continuing to work with FDA following receipt of complete response letter in SeptemberDiagnostics Division
Divisional sales again outpace the market, increasing 11% in local currencies Professional Diagnostics and Applied Science continue to drive growth Diabetes Care posts solid growth in Latin America, Asia–Pacific and Japan, more than offsetting lower US sales Ventana continues to exceed expectations as integration nears successful completionUnless otherwise stated, all growth rates are in local currencies
* Excluding Tamiflu pandemic sales
Commenting on the Group’s sales performance in the first nine months of 2008, Roche CEO Severin Schwan said: ‘The Roche Group maintained its strong growth in the third quarter. Sales by both the Pharmaceuticals and Diagnostics divisions1 advanced at double-digit rates in local currencies, clearly outgrowing their respective markets. Based on this performance, we again expect a good full-year result and confirm our outlook for 2008. We are also pleased that the newly acquired Ventana business continues to exceed expectations and that the integration process is well advanced.’
Roche Group
Excluding Tamiflu pandemic sales
Sales from January to September 2008
mCHF 2007
mCHF % change in CHF % change in local cur. % change in US dollars
Pharmaceuticals Division 26,062 25,726 +1 +10 +17
Roche Pharmaceuticals 16,294 15,668 +4 +10 +20
Genentech 7,536 7,850 -4 +11 +11
Chugai 2,232 2,208 +1 +3 +16
Diagnostics Division 7,112 6,823 +4 +11 +20
Roche Group 33,174 32,549 +2 +10 +17
Including Tamiflu pandemic sales
Sales from January to September 2008
mCHF 2007
mCHF % change in CHF % change in local cur. % change in US dollars
Pharmaceuticals Division 26,193 27,124 -3 +4 +11
Roche Pharmaceuticals 16,423 16,792 -2 +3 +13
Genentech 7,536 7,850 -4 +11 +11
Chugai 2,234 2,482 -10 -8 +4
Diagnostics Division 7,112 6,823 +4 +11 +20
Roche Group 33,305 33,947 -2 +6 +13
See attachment to this release for details of quarterly sales growth
Sales by the Roche Group in the first nine months of 2008 increased by 6% in local currencies (-2% in Swiss francs; 13% in US dollars)2 to 33.3 billion Swiss francs. Excluding Tamiflu pandemic sales to governments and corporations, sales rose 10% (2% in Swiss francs; 17% in US dollars). The rise in the Swiss franc against most currencies, particularly against the US dollar, resulted in Swiss franc growth being eight percentage points lower than growth in local currencies.
2008 full-year outlook confirmed
Barring unforeseen events, based on the sustained strong sales growth over the first nine months, Roche confirms its targets for full-year 2008. Excluding Tamiflu pandemic sales to governments and corporations, Roche anticipates a high single-digit increase in Group sales, with above-market sales growth in both divisions. Despite considerably lower Tamiflu pandemic sales and significantly higher R&D spending, Roche is aiming for 2008 Core EPS at constant exchange rates to remain at least in line with the record level achieved in 2007.
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