Published: 26 Jul 2012 17:28 GMT+02:00 | Print version
Updated: 26 Jul 2012 17:28 GMT+02:00
Swiss pharma giant Roche on Thursday said it was on course to meet its objectives despite a 17-percent drop in first half profits to 4.4 billion francs ($4.5 billion).
The figure was linked to restructuring charges associated with the closure of its US research and development facility in Nutley, New Jersey, Roche said in a statement.
The Nutley closure -- involving the loss of 1,000 jobs -- will result in savings of 370 million francs, Roche said, although the measure cost 858 million francs.
Further streamlining in the company's diabetes and applied science sectors cost 289 million francs and another 530 million francs was spent on global restructuring, Roche said.
Operating profit was up seven percent to 8.6 billion francs and the company's turnover rose to 22.4 billion euros, up three percent on 2011, despite downward pressure on prices, particularly in
The pharmaceuticals sector achieved the best results, with operating profit up nine percent.
The main growth drivers were cancer medicines, the hepatitis drug Pegasys, rheumatoid arthritis treatment Actemra/RoActemra and the clinical laboratory business.
Looking ahead, Roche chief executive Severin Schwan said the restructuring measures would enable the group to invest in clinical trials and that "barring unforeseen events", he expected "low to mid-single digit sales growth".
Switzerland will play hosts Sweden in the final of the world ice hockey championships on Sunday after each side registered a 3-0 semi-final victory over the United States and Finland respectively. READ () »
Jewellery worth more than $1 million made by Swiss luxury watchmaker and jeweller Chopard and due to be loaned to stars walking the red carpet at the Cannes film festival were stolen from a hotel, French police said on Friday. READ () »
Chinese Premier Li Keqiang embarks this weekend on his first foreign trip since taking office, with a stop in Switzerland on the itinerary and free trade talks between the two countries close to completion. READ () »
The Salvation Army band carrying Switzerland’s hopes into the Eurovision Song Contest was vanquished on Thursday night in Malmö, Sweden. READ () »
More than a third of Geneva’s active working population lives outside the canton, with the majority residing in neighbouring France and the rest largely in the canton of Vaud, according to a report issued on Thursday. READ () »
International Cycling Union (UCI) president Pat McQuaid can count on the support of the Swiss federation in his bid for re-election, the sport's global governing body said on Thursday. READ () »
Switzerland headed to the world ice hockey championship semifinals after a 2-1 win over the Czech Republic on Thursday in Stockholm. READ () »
The chairman of newborn mining and commodities giant Glencore Xstrata, John Bond, was on Thursday axed by its annual general meeting in Zug, just weeks after the Swiss-based group was created via a merger of two key players. READ () »
United Nations chief Ban Ki-moon has nominated former Kenyan minister and member of parliament Mukhisa Kituyi to lead the UN's Geneva-based trade and development body when the current chief steps down at the end of August. READ () »
Geneva-based luxury goods giant Richemont boosted net profit for the 2012-2013 year by 30 percent as expected, with strong performances in its jewellery and watch divisions and by favourable exchange rates, the group said on Thursday. READ () »