Roche: raises 2018 earnings goal on new medicines
(CercleFinance.com) - Swiss drugmaker Roche raised its full-year earnings target for 2018 on Thursday given the growing uptake of its new medicines.
The Basel-based group posted a 35% percent rise in first-half net income to 7.5 billion Swiss francs. At the same time, group sales increased 7 percent at 28.1 billion Swiss francs.
"Both our pharmaceuticals and diagnostics divisions achieved very strong results," said Roche CEO Severin Schwan.
Indeed, pharmaceuticals division sales were up 7 percent, while diagnostics division sales grew 6 percent, primarily due to demand for immunodiagnostic solutions.
Based on this performance, Roche raised its 2018 core earnings per share growth target in the mid-teen digits, at constant exchange rates.
In early morning trading, shares in Roche were up 2 percent at 243.1 Swiss francs, compared to a 0.7 percent rise in the European health care sector.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The Basel-based group posted a 35% percent rise in first-half net income to 7.5 billion Swiss francs. At the same time, group sales increased 7 percent at 28.1 billion Swiss francs.
"Both our pharmaceuticals and diagnostics divisions achieved very strong results," said Roche CEO Severin Schwan.
Indeed, pharmaceuticals division sales were up 7 percent, while diagnostics division sales grew 6 percent, primarily due to demand for immunodiagnostic solutions.
Based on this performance, Roche raised its 2018 core earnings per share growth target in the mid-teen digits, at constant exchange rates.
In early morning trading, shares in Roche were up 2 percent at 243.1 Swiss francs, compared to a 0.7 percent rise in the European health care sector.
Copyright (c) 2018 CercleFinance.com. All rights reserved.