Roche sees net profit swell amid cancer drug success

January 30, 2014

Swiss pharmaceuticals giant Roche on Thursday posted an 18-percent hike in net profit for 2013, driven particularly by rising sales of its cancer-fighting drugs.

The made a of 11.4 billion Swiss francs (9.3 billion euros, $12.7 billion) for the full year, Roche said in a statement.

"2013 was a very good year for Roche," company chief executive Severin Schwan said in the statement.

The picture could have been even rosier without the negative impact of exchange rates: in local currencies the company's net profit swelled 22 percent in 2013.

Sales meanwhile rose three percent to 46.8 billion francs on an operating profit up four percent at 17.9 billion, the group said.

The sales figure ticked in slightly above the expectations of analysts polled by the AWP financial news service, who had anticipated the company to cash in 46.5 billion in sales.

The hike was attributed to rising demand for Roche's biggest cancer-fighting medicines, as well as drugs used in the areas of immunology and ophthalmology and for diagnostics tests.

The company, the world-leader in , has been swelling its portfolio with new treatments like Kadcyla, for women with a particularly aggressive form of , and lukemia drug Gazyva, both approved in the United States last year.

The company said saw its sales jump 10 percent in the United States and 12 percent in emerging economies.

The picture was bleaker in Europe and Japan, where sales grew just two percent.

"We exceeded our financial targets with strong demand for our existing products and positive uptake of recently launched medicines and diagnostics," Schwan said.

He highlighted especially the company's launch of two new drugs, Perjeta and Kadcyla, for women with a particularly aggressive form of breast cancer.

Looking forward, the group said it in 2014 expected to see "low- to mid-single digit growth" in , in terms of constant exchange rates.

The company's board meanwhile proposed dishing out a dividend of 7.80 Swiss francs to shareholders on the 2013 earnings, up six percent from the year before.

The proposed dividend however missed the expectations of analysts, who had anticipated a dividend of 7.91 Swiss francs.

Following the news, Roche's share price fell 1.30 percent to 235.90 francs a piece in morning trading, as the main Swiss market index fell just 0.62 percent.

Related Stories

Roche profits drop on one-off costs

July 26, 2012

(AP) — One-off charges at Swiss drugmaker Roche Holding AG on Thursday pushed first-half net profits down 17 percent, but strong sales of cancer drugs and cost-cutting contributed to a rise in core operating figures.

Cancer drugs give Roche a 2012 profit boost

January 30, 2013

Growing demand for its cancer medicines and diagnostic tests used by clinical laboratories helped Swiss drug maker Roche Holding AG post a modest 2.4 percent increase in full-year profits.

Roche sales up 5 percent amid rush for Tamiflu, cancer drugs

April 11, 2013

Swiss drug giant Roche said Thursday that heightened demand for its Tamiflu drug amid a severe flu season, as well as for its cancer medicines had sent its first-quarter sales up five percent, beating analyst expectations.

Swiss pharma Novartis ups full-year sales outlook (Update)

October 22, 2013

Swiss pharmaceutical giant Novartis AG raised its full-year sales outlook because of delays in generic competition to its blockbuster blood pressure drug Diovan, even though it said negative currency trends contributed to ...

Novartis Q4 net profit rises to $2.0 billion

January 29, 2014

Swiss drug maker Novartis AG reported a 2 percent rise in fourth-quarter net profit Wednesday, helped by delays in generic competition to its blockbuster drugs.

Recommended for you

Sustaining biomedical research: Med school deans speak out

May 27, 2015

Cuts in federal support and unreliable funding streams are creating a hostile work environment for scientists, jeopardizing the future of research efforts and ultimately clinical medicine, according to leaders of the nation's ...

0 comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.