Roche profits soar on cancer-drug sales

PROFITS at Roche Holdings leapt 34% 2006 on strong sales of cancer treatments Herceptin and Avastin and flu drug Tamiflu, but worries over margin growth hit the stock yesterday.

Results from the Swiss healthcare group were broadly in line with analyst expectations, with net income of 9.17 billion Swiss francs (€5.63bn) close to the average forecast of 9.11bn francs in a poll of 15 analysts. Roche employ close to 250 at their plant in Clarecastle, Co Clare.

The figures, however, disappointed those hoping for more from the darling of the European pharmaceuticals sector. Its cautious comments on prospects for margin expansion in 2007 knocked the stock back from recent record highs.