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Roche enjoys strong profit, expects growth in 2014

Thu, 01/30/2014 - 6:07am
The Associated Press

Strong demand for its cancer medicines and diagnostic tests used by clinical laboratories have boosted Swiss drug maker Roche Holding AG's full-year profits.

The company, based in Basel, Switzerland, said Thursday it had net income of 11.2 billion Swiss francs ($12.4 billion) in 2013, an 18 percent rise against 9.5 billion francs the year before.

CEO Severin Schwan called 2013 "a very good year for Roche" as strong demand helped the company exceed its financial targets.

The world's biggest manufacturer of cancer drugs said earnings are expected to continue to rise in 2014, with strong sales of a breast cancer medicine, Perjeta, and new products such as leukemia drug Gazyva and another breast cancer medicine, Kadcyla.

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