Estimated read time: Less than a minute
This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.
BERLIN (AP) — Drug maker Roche Holding AG says its first-half profit was weighed down by the surging Swiss franc and one-time effects, while solid sales of cancer treatments helped push revenue higher.
Roche, which reports earnings every six months, said Thursday that net income for the January-June period was 5.25 billion francs ($5.5 billion) — down 7 percent from 5.64 billion francs a year earlier.
Revenue rose 3 percent to 23.59 billion francs from 22.97 billion francs. Roche said it saw particularly strong increases in sales of breast cancer drugs.
Roche pointed to "the significant negative currency impact" as a factor in the drop in profit, along with factors such as the impact of recent acquisitions including that of InterMune, a developer of lung disease treatments.
Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
