Roche ‘strong performance’ continues in first half of 2007

Roche has published its half-year report for the 2007 fiscal year, with the company reporting a 15 per cent increase in group sales to CHF 23 billion (9.3 billion pounds).

These sales figures and a 3.6 per cent rise in operating profit margin to 32.8 per cent resulted in a 29 per cent increase in net income to CHF 5.9 billion for the first half the year, while a 21 per cent rise in core earnings per share to CHF 5.95 exceeded the increase in sales.

Roche reported an 18 per cent rise in pharmaceutical sales, with a 22 per cent growth in cancer medicines developing the firm’s market position in oncology.

During the first half of the year, the company opened new biotechnology manufacturing facilities, while its cancer drugs Avastin, Herceptin and Xeloda were approved for additional indications in the EU.

Franz B Humer, chairman and chief executive officer of the company, said: “Roche posted impressive half year results, continuing the robust growth of previous years.

“On top of this substantial organic sales increase we achieved another significant improvement in the group’s profitability.”

He added that the company has made progress in its research and development projects and has also benefited from a number of strategic acquisitions which left the firm well placed for future growth.

Last month, Roche announced the $272.5 million (133.5 million pound) acquisition of DNA microarrays, consumables, instruments and services company NimbleGen.