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Roche's MDx, Applied Science Revenues Rise in First Half of 2008

NEW YORK (GenomeWeb News) – Roche today reported that its molecular diagnostics revenues increased 4 percent while its applied science revenues rose 21 percent for the first half of 2008.
Roche said that its molecular diagnostic sales for the six-month period ended June 30 were 551 million Swiss francs ($541.5 million). The firm cited sales of its fully automated tests for HIV and hepatitis B and C as the key drivers of revenue for its virology diagnostics. It noted, though, that blood screening revenues declined due to pricing pressure.
Sales for Roche Applied Science totaled 367 million Swiss francs, with growth driven by the firm’s Genome Sequencer FLX, LightCycler 480 platform, and microarrays. Roche noted that its sequencing product sales more than doubled for the first half of the year even though there has been increased pressure from competitors.
Overall, the diagnostics division, which houses both the molecular diagnostics and applied science businesses, reported revenue growth of 11 percent to 4.7 billion Swiss francs for the first half.
Roche said that sales from Ventana Medical Systems, which it acquired in February for $3.4 billion, were 164 million Swiss francs. The firm said Ventana’s results were “even stronger” than expected.
The Roche Group had total first-half revenues of 22 billion Swiss francs, up 4 percent in local currencies. Its net income was 5.7 billion Swiss francs.
Sales for Roche’s pharmaceutical division, which includes Roche Pharmaceuticals, Genentech, and Chugai, were 17.3 billion Swiss francs for the first six months of 2008, up 3 percent.
Roche reaffirmed its full-year guidance of high single-digit revenue growth.
The firm also made an offer today to acquire the 44.1 percent of Genentech that it doesn’t already own for $89 per share, or $43.7 billion.

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