Financial Report: Roche FY08

Roche FY08

FY Revenues: $43.3 billion (-1%)

FY Earnings: $10.3 billion (-5%)

Comments: Total sales were up 6% in local currencies (-1% in Swiss francs; +10% in U.S. dollars), with the Pharmaceuticals Division representing 79% of group sales and the Diagnostics Division contributing 21%, compensating for the decline in Tamiflu pandemic sales (down $1.5 billion to $577.7 million) due to reduced pandemic stockpiling orders. Pharmaceutical sales were $34.1 billion (-2% CHF, +8% USD). Genentech revenue accounted for $9.9 billion of Roche’s total, while Chugai revenue accounted for $3.2 billion. Growth was driven by oncology drugs including Avastin, MabThera/Rituxan, Herceptin, Tarceva and Xeloda, with sales up 15% to $18.7 billion. Additional growth drivers were Bonviva/Boniva with sales up 35% to $1.0 billion.