Roche reports positive performance for Q1 2012

Roche has expressed satisfaction with its financial performance in the first quarter of 2012.

The company generated sales of 11.03 billion Swiss francs (7.56 billion pounds) for the three months, up by two percent year over year on a constant exchange rate basis.

During the period, pharmaceutical sales rose by two percent thanks to the success of the oncology portfolio, while the firm's diagnostics business saw four percent growth.

Roche was also able to secure regulatory approvals for the important new skin cancer therapies Zelboraf and Erivedge, while positive results were reported from five out of five key late-stage clinical trials.

Chief executive officer Severin Schwan said: "With sales advancing two percent in the first three months, we remain on track to achieve our targets for the full year."

This comes after the firm expressed confidence in its 2012 business prospects at its recent annual general meeting, based on positive clinical research developments achieved during 2011.