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World's Biggest Cancer Drugs Producer Reports Strong Interim Benefits

Posted on: Thursday, 21 July 2005, 09:01 CDT

World's biggest cancer drugs producer reports strong interim benefits

GENEVA, July 20 (Xinhua) -- Roche, the world's largest maker of cancer drugs, on Wednesday reported strong interim results, with net profit of 3.24 billion Swiss francs (2.5 billion US dollars), a four percent increase over the same period of last year and above market expectations.

"Roche performed extremely well in the first half of 2005. We increased our net income, strengthened our market position and made progress on major development projects," said chairman and chief executive Franz Humer in a statement.

The company, based in Basel, Switzerland, reported first-half sales of 16.2 billion Swiss francs (12.5 billion dollars), up 14 percent from a year earlier.

With pharmaceuticals and diagnostics as core businesses, Roche said the pharmaceuticals division was the "key growth driver" during the period, with its sales increasing three times bigger than the global market average.

Sales in the pharmaceuticals division rose by 19 percent to 12. 65 billion Swiss francs (9.76 billion dollars), significantly ahead of the average growth rates in the United States, Europe and Japan - - the division's three most important markets.

Sales in the diagnostics division rose two percent to 3.97 billion Swiss francs (3.06 billion dollars), Roche reported.

Roche repeated its forecast that the pharmaceuticals division will post double-digit sales growth for the full year while diagnostics would see above-market, single-digit percentage sales growth.

Source: Xinhua News Agency - CEIS

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