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Roche Applied Science Sales Drop in First Half of 2011

By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) – Roche announced its first-half 2011 financial results today, showing a drop in sales for its Applied Science business and weak molecular diagnostics sales growth.

The Swiss firm reported Applied Science sales of CHF377 ($460.3 million), down 16 percent in Swiss francs and 4 percent in local currencies. Its molecular diagnostics business brought in sales of CHF544 million, down 10 percent in Swiss francs from CHF604 million for the first half of 2010. In local currencies, the molecular diagnostics business had 2 percent revenue growth.

Overall, the firm's diagnostics unit had sales of CHF4.86 billion, down 8 percent in Swiss francs from CHF5.25 billion, but up 5 percent in local currencies.

Roche's Tissue Diagnostics business had sales of CHF259 million, flat in Swiss francs but up 16 percent in local currencies year over year. That business is expected to be bolstered by the firm's pending acquisition of MTM Laboratories for up to €190 million ($269 million), which was announced earlier this week.

Roche's total sales for the first half were CHF21.67 billion, down 12 percent from CHF24.64 billion, but flat in local currencies. Its net income was CHF5.23 billion, or CHF6.68 per share, compared to CHF5.57 billion, or CHF6.95 per share.

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