Roche announces “record” financial results

Following the release of its operating results for 2007, Roche has announced that its business continued to show “healthy growth”.

Roche’s chairman and chief executive officer Franz B Humer confirmed that sales had increased by ten per cent to 46 billion Swiss francs (21 billion pounds) and highlighted double-digit growth for the seventh year in a row.

Its pharmaceutical division saw sales increase at nearly twice the global market growth rate.

New approvals and product launches had strengthen Roche’s position in the oncology sector, according to Mr Humer.

Roche also announced that its diagnostics division had maintained its global market leadership as sales rose to six per cent to 9.3 billion Swiss francs.

Acquisitions with several medical companies and a merger agreement with Ventana Medical Systems had further boosted its position in the diagnostics market.

Mr Humer stated: “Our steady focus on innovation, our global pharmaceutical research network, our strengths in biotechnology, our leadership in diagnostics, our strong product pipeline and the integration of pharmaceuticals and diagnostics are important short and long-term competitive advantages.”

Also this week, Roche announced that Avastin (bevacizumab), its anti-angiogenic agent for patients suffering from metastatic colorectal cancer, received a broad label extension from the European commission for wider use.