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Group sales were stable in local currencies, up 2%.
July 21, 2011
By: Tim Wright
Roche 1H11* YTD Revenues: 21.7 billion (-12%) YTD Earnings: 5.3 billion (-5%) Comments: Group sales, excluding Tamiflu, were up 2% in local currencies to 21.4 billion. Pharmaceutical sales were down 11% to 16.8 billion (-1% in LC). The decrease in Avastin and Tamiflu sales, generic competition for CellCept, and competition for the NeoRecormon/Epogin franchise, was partially offset by continued growth of Herceptin, MabThera/Rituxan, Xeloda and Tarceva, Lucentis and Actemra/RoActemra. R&D costs were down 11% to 3.9 billion. Diagnostics Division sales fell 8% to 4.9 billion (+5% LC) *All numbers reported in CHF
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