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Roche and Pfizer report growth

Swiss-based Roche has reported a 10 per cent growth in sales to CHF33.2bn for year ended September 30, 2008

Swiss-based Roche has reported a 10 per cent growth in sales to CHF33.2bn for year ended September 30, 2008.

Sales of the osteoporosis drug Bonviva, and the cancer therapy Avastin, which were up 41 per cent and 37 per cent respectively, contributed to the successful sales story to date.

In Japan, sales of Avastin continued to be strong (although not as high as the phenomenal figures seen in Q2 of 1567 per cent), outstripping those in Europe and RoW, with growth of 442 per cent.

Roche CEO Severin Schwan said: "The Roche Group maintained its strong growth in the third quarter. Sales by both the pharmaceuticals and diagnostics divisions advanced at double-digit rates in local currencies, clearly outgrowing their respective markets. Based on this performance, we again expect a good full-year result and confirm our outlook for 2008."

Quarterly sales increased to CHF11.3bn compared with CHF11.12bn in the same period last year. 

Pfizer profits triple
Pfizer has reported net income of $2.3bn for Q3 2008 compared with $761m for the same period last year.

For the period January to September 2008, Pfizer reported revenue of $2.3bn – a 1 per cent increase on the same period last year. However, this figure was achieved despite the loss of US exclusivity for Norvasc (for the treatment of high blood pressure), allergy treatment Zyrtec and Camptosar (used to treat colon and rectal cancer).

US revenue has decreased by 13 per cent. However, the favourable impact of foreign exchange has contributed to an increase of 15 per cent in international revenue.

21st October 2008

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