Source Pravda.Ru

Roche beats analysts profit expectations for 2007

Pharmaceutical group Roche’s profit rose 10.44 billion dollars in 2007. The analysts expectations were beaten.

The company’s profit was up 25 percent from a year ago.

Its turnover also grew despite the fact that sales of bird flu drug Tamiflu decreased by 19 percent.

F. Hoffmann–La Roche, Ltd. is a Swiss global health-care company which operates world-wide under two divisions: Pharmaceuticals and Diagnostics. It belongs to the Roche Holding AG.

The headquarters are in Basel and the company has many sites around the world - including: Nutley, Palo Alto, Pleasanton, Branchburg, Indianapolis, Florence in the US, Welwyn Garden City in the UK, Mannheim, Penzberg in Germany, and Shanghai in China.

The company also owns a majority of the American biotechnology company Genentech and the Japanese biotechnology company Chugai Pharmaceuticals.

Roche Holding AG (ticker ROC.S) is listed on the London-based virt-x stock exchange (virt-x is a company of the SWX Swiss Exchange). Roche's revenues during fiscal year 2005 were $28.6 billion (2005, 35.5bn CHF). Descendants of the founding Hoffmann and Oeri families own half of the company. Swiss pharma company Novartis owns 33% of the company (as of 2005).