Swiss drug maker Roche posts 7 percent profit drop

Jul 24, 2014

(AP)—Swiss drugmaker Roche Holding AG on Thursday posted a net profit drop of 7 percent compared with a year ago, weighed down by a strong Swiss franc and charges from one of its diagnostic units.

The world's biggest manufacturer of , which reports earnings every six months, said it had 5.641 billion Swiss francs ($6.25 billion) in net income from April to June, down from 6.047 billion francs in the comparable period of 2013.

The Basel, Switzerland-based company said its first-half sales were 22.974 billion francs, down 1 percent from 23.295 billion francs from a year ago.

It reported impairment charges of 414 million francs in tissue diagnostics and said the Swiss franc was stronger against most currencies in the first half of the year, particularly against the dollar, the yen and several Latin American currencies.

"The overall impact is strongly negative on the results expressed in Swiss francs compared to constant exchange rates, with a 6-8 percentage point impact on sales," the company reported.

In a statement, Chief Executive Severin Schwan described the company's first half as "good," driven mainly by its cancer medicines, especially new breast treatments Perjeta and Kadcyla, and by its diagnostics products.

Roche said it expects low to mid-single digit growth in overall sales for the year, and to further increase its dividend.

"Based on our half year performance, I am confident that we will meet our full-year targets," Schwan said.

Explore further: Roche sees net profit swell amid cancer drug success

not rated yet
add to favorites email to friend print save as pdf

Related Stories

Cancer drugs give Roche a 2012 profit boost

Jan 30, 2013

Growing demand for its cancer medicines and diagnostic tests used by clinical laboratories helped Swiss drug maker Roche Holding AG post a modest 2.4 percent increase in full-year profits.

Novartis Q4 net profit rises to $2.0 billion

Jan 29, 2014

Swiss drug maker Novartis AG reported a 2 percent rise in fourth-quarter net profit Wednesday, helped by delays in generic competition to its blockbuster drugs.

Roche profits drop on one-off costs

Jul 26, 2012

(AP) — One-off charges at Swiss drugmaker Roche Holding AG on Thursday pushed first-half net profits down 17 percent, but strong sales of cancer drugs and cost-cutting contributed to a rise in core operating ...

Recommended for you

Does bad behavior really hurt business?

5 hours ago

Silicon Valley seems to have more than its share of companies behaving badly. Among up-and-comers in the tech world, privacy abuses and executive gaffes have become viral sensations. But is all that bad behavior ...

Dish restores Turner channels to lineup

Nov 21, 2014

Turner Broadcasting channels such as Cartoon Network and CNN are back on the Dish network after being dropped from the satellite TV provider's lineup during contract talks.

'Call of Duty' blasts past $10 bn in sales

Nov 20, 2014

Blockbuster military shooter video game "Call of Duty" has blasted past $10 billion in lifetime sales, propelled by demand for the latest installment in the 11-year-old franchise.

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.