Roche asserts financial results confidence

Roche is confident it can deliver on its full-year fiscal targets for 2009.

Chief executive officer of the company Severin Schwan remarked the eight per cent sales increase in the first quarter of this year shows how well the business had developed.

Key oncology, virology, inflammation and ophthalmology products helped the firm to expand sales twice as fast as the global market.

Mr Schwan explained how the business had begun to incorporate members of the Genentech workforce into its operations since the acquisition had been successfully completed.

He remarked: “We are delighted that ? many outstanding individuals from both Genentech and Roche have committed themselves to driving forward the combined businesses.”

“We will update our full-year outlook to include the impact of the Genentech transaction when we announce our half-year results.”

Earlier this week, Roche announced Arthur Levinson would chair Genentech’s board of directors with an aim to integrate employees from both businesses.

It is expected he will be up for election to serve on Roche’s board of directors at the company’s next annual general meeting of shareholders in 2010.