FiercePharma says: Roche reported a 58 percent increase in first-half profit to $5.2 billion, helped by lower costs associated with the integration of Genentech. But the numbers fell short of expectations, and a drop in pharma sales of 2.3 percent had analysts moaning. "The results are not really that positive," Rahn & Bodmer's Birgit Kulhoff tells Bloomberg.
Roche's Q2 Highlights
- Group first-half sales up 5% in local currencies (3% in Swiss francs, 7% in US dollars) to 24.6 billion Swiss francs.
- Operating profit (before exceptional items) up significantly, rising 11% in local currencies (10% in Swiss francs) to 8.8 billion Swiss francs - again advancing faster than sales.
- Net income rises 37% compared with first half of 2009; lower exceptional expenses relating to integration of Genentech.
- Core earnings per share up 11% in local currencies, 9% in Swiss francs.
- Full-year outlook for 2010 confirmed.
Roche's website: http://www.roche.com/
Full release: Roche earnings release