Financial Report: Roche

Roche

FY Revenues: $49.1 billion (+8%)

FY Earnings: $8.5 billion (-22%)

Comments: Pharma sales were up 11% (8% in CHF and U.S. dollars). The company achieved record sales for the year with continued growth for Avastin, Herceptin, MabThera/Rituxan, Tarceva and Xeloda, as well as Tamiflu and Lucentis sales. Genentech contributed 9% to results. Roche obtained full ownership of Genentech in March 2009. For the year, restructuring and integration costs were $2.3 billion, related to the discontinuation of a construction project at the manufacturing site at Vacaville, CA, the closure of manufacturing operations at Nutley, NJ, the closure of the R&D site at Palo Alto, CA, and costs associated with the consolidation of the U.S. administrative functions in South San Francisco.