Roche Finished 1999 On Strong Note

Jan. 13, 2005
Swiss pharmaceutical company Roche Holding AG's 1999 profits rose 14.5 %, slightly below market forecasts but still acknowledged by analysts as a strong performance. The Zurich-based company's adjusted net profits excluding exceptional items in 1999 ...

Swiss pharmaceutical company Roche Holding AG's 1999 profits rose 14.5 %, slightly below market forecasts but still acknowledged by analysts as a strong performance. The Zurich-based company's adjusted net profits excluding exceptional items in 1999 were SFr 5.031 billion (US$3.01 billion), up from SFr4.392 billion a year earlier. Analysts had forecast net profits of SFr5.0-5.3 billion. Including exceptional items, net profits reached SFr5.764 billion. The company said the preconditions for "solid 2000 growth are in place" and it expects another good result for the current year. "The financial effects of the Genentech Inc. transactions, the vitamin case, and legal settlements by Genentech had a major impact on 1999 results," the company said. Earlier this month Roche sold 17.3 million shares in its biotechnology subsidiary Genentech, raising $2.8 billion for general corporate purposes. Last year Roche was fined SFr 2.43 billion (US$1.5 billion) when the U.S. Justice Dept. found it guilty of violating anti-trust laws and dividing up the U.S. vitamins market, together with German chemicals group BASF AG and France's Rhone-Poulenc. Roche's fragrances and flavors division is scheduled to be spun off as Givaudan, pending approval at the annual general meeting on May 9. The division is poised for growth as an independent company, Roche said, following consolidation in purchasing and production in 1999.

Popular Sponsored Recommendations

Electric Vehicles Spark New Opportunities in the Automotive Industry

Dec. 4, 2023
Automakers have increased plans to produce Electric Vehicles to meet customer demand for low emissions. With this radical shift, new opportunities and challenges for the auto ...

Why DataOps may be the key to unlocking the full potential of digital transformation

Nov. 3, 2023
Read the 2023 market survey conducted by IndustryWeek

Process Mining For Dummies

Nov. 19, 2023
Here it is. Everything you need to know about process mining in a single book, written in the easy-to-understand, hard-to-forget style that ‘For Dummies’ manages so effortlessly...

Gain a competitive edge with real-world lessons on private 5G networks

Nov. 16, 2023
The use of private networks in manufacturing applications is rapidly growing. In this paper, we present valuable insights and lessons learned from the field with the goal of enhancing...

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!