Roche profits boosted by swine flu drug sales

PHARMACEUTICAL groups, like food stocks, are seen as good defensive investments when the global economy is sinking and stock markets are in rapid decline.

To prove the point Roche, the Switzerland-based pharma giant produced first-half results showing a huge surge in sales of Tamiflu, the swine flu drug. They helped the Swiss group increase underlying operating profits by 13% to €7.54 billion.

In the earlier part of the year the share price struggled, held back by the still weak global economic outlook.