Roche highlights strong performance and promising outlook in 2011
3 February 2012 00:00 in Pharmaceutical Company Financials
Roche has expressed confidence in its 2012 growth prospects based on the strength of its financial performance in 2011.
The pharmaceutical group's sales for the year came to 42.53 billion Swiss francs (29.34 billion pounds), with performance improving by two percent on a constant exchange rate basis when excluding Tamiflu.
Pharmaceutical sales were in line with market expectations, while its diagnostics division significantly outpaced the rest of the sector at a time when Roche saw its bottom line impacted by unfavourable currency trends.
The firm expects its 2012 performance to be bolstered by its promising late-stage clinical pipeline, with 17 of 20 trials delivering positive results in 2011, while a planned acquisition of Illumina has also been announced.
This deal has been valued at $5.7 billion and will expand the company's diagnostics capabilities further still.
Roche chief executive officer Severin Schwan said: "For 2012 we expect group sales to grow at a low to mid-single-digit rate and we have set ourselves the target of high single-digit core earnings per share growth."
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Story collated for Zenopa by the Axonn News Agency