RHHBY Roche Holdings Ltd AG (QX)

By Carlo Martuscelli

Roche Holding AG (ROG.EB) said Thursday that sales and profit increased in 2019, and it guided for further growth in the year ahead despite biosimilar competition.

The Swiss drug maker said net income was 14.11 billion Swiss francs ($14.48 billion) for 2019, up from CHF10.87 billion in 2018, on sales that increased 8.1% to CHF61.47 billion.

The 30% increase in profit was attributable to a healthy underlying performance as well as a goodwill impairment booked in the year prior, the company said.

Core operating profit--a closely watched company figure that strips one-off effects--rose 10% to CHF22.48 billion.

Roche highlighted its multiple sclerosis medicine Ocrevus, as well as the new hemophilia treatment Hemlibra and cancer drugs Tecentriq and Perjeta as growth drivers.

In the year ahead, sales are expected to increase by a low- to mid-single digit percentage when accounting for currency effects despite competition from biosimilar drugs. Core earnings per share are expected to grow in line with sales, also at constant exchange rates.

Roche declared a dividend of CHF9 a share.

Write to Carlo Martuscelli at carlo.martuscelli@wsj.com; @carlomartu

(END) Dow Jones Newswires

January 30, 2020 01:42 ET (06:42 GMT)

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