UPDATE: Roche 2008 Net Profit Down 8% On Tamiflu, Franc
February 04 2009 - 1:48AM
Dow Jones News
Roche Holding AG (ROG.VX) Wednesday reported a 8% drop in
full-year net profit and slightly lower sales, as the strong Swiss
franc and a sharp drop in revenue from flu drug Tamiflu offset the
boost from briskly selling cancer drugs.
Roche, based in Basel, said net profit attributable to
shareholders fell to 8.97 billion Swiss francs ($7.83 billion) in
the year ended Dec. 31 from CHF9.76 billion in 2007, below
analysts' average forecast of CHF9.81 billion. Roche, which doesn't
publish quarterly earnings figures, said sales declined 1% to
CHF45.62 billion from CHF46.13 billion.
For the full year 2009, Roche expects sales at its flagship
pharmaceutical division to rise at mid-single-digit pace, and group
sales to expand at the same rate.
The company plans to increase its dividend to CHF5 a share, from
CHF4.60 in 2007.
Sales at the flagship pharmaceutical unit suffered from the fall
in Tamiflu revenue. The drug had seen healthy sales in earlier
years when governments bought in bulk to stockpile to be prepared
for the possible outbreak of an influenza pandemic. The franc's
appreciation against the dollar and the euro further dented
sales.
Roche shares closed Tuesday at CHF162.60, down 0.6% on the day.
The stock's value is unchanged so far this year, while the European
healthcare sector as a whole is 0.9% higher.
Company Web Site: www.roche.com
-By Anita Greil, Dow Jones Newswires; +41 43 443 8044 ;
anita.greil@dowjones.com
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