Swiss pharmaceutical giant Roche reported a 9 percent decline in first-quarter sales hurt by negative exchange rate impact and lower pharmaceuticals sales.
In the first three months of 2011 Roche Group sales remained stable in local currencies (-9% in Swiss francs; +2% in US dollars) at 11.1 billion Swiss francs. Excluding Tamiflu sales, which as expected declined significantly compared with the prior-year period (from 517 million to 252 million francs), Group sales increased 2% (-7% in Swiss francs, +4% in US dollars).
The Pharmaceuticals Division’s first-quarter sales totalled 8.7 billion Swiss francs, a decline of 2% in local currencies (-10% in Swiss francs; +1% in US dollars). Excluding Tamiflu, pharmaceutical sales advanced 1%.
Sales by the Diagnostics Division continued to grow faster than the global in vitro diagnostics market, advancing 6% in local currencies (-4% in Swiss francs; +7% in US dollars) to 2.4 billion Swiss francs.
The sales figures expressed in Swiss francs reflect a substantial negative exchange-rate impact due to the strength of the franc relative to all currencies relevant for Roche, in particular the US dollar and the euro, compared with the first quarter of 2010.
