Group sales up 5% at constant exchange rates1, 1% in Swiss francs
• Pharmaceuticals Division sales up 4%, driven by oncology (HER2-positive breast cancer medicines, Avastin) and strong growth in immunology (Actemra, Xolair)
• Diagnostics Division sales up 6%, driven by Professional Diagnostics and Molecular Diagnostics • Core earnings per share increased by 5% to 14.29 Swiss francs; up 7% excluding one-time double charge of the US Branded Prescription Drug fee2
• Board proposes dividend increase of 3% to 8.00 Swiss francs, 28th consecutive year of dividend growth
• Outlook for 20153: Sales expected to grow low-to mid-single digit, at constant exchange rates. Core earnings per share targeted to grow at constant exchange rates ahead of sales. Roche expects to further increase its dividend in Swiss francs
| In millions of CHF | % change | |||
|---|---|---|---|---|
| 2014 | 2013 | CER | CHF | |
| Group Sales | 47,462 | 46,780 | 5 | 1 |
| Pharmaceuticals Division | 36,696 | 36,304 | 4 | 1 |
| Diagnostics Division | 10,766 | 10,476 | 6 | 3 |
| Core operating profit | 17,636 | 17,904 | 3 | -1 |
| Core net income | 12,533 | 12,526 | 6 | 0 |
| IFRS net income4 | 9,535 | 11,373 | -10 | -16 |
| Core earnings per share (CHF) | 14.29 | 14.27 | 5 | 0 |
Commenting on the Group’s results, Roche CEO Severin Schwan said: “We made good progress in 2014 with solid growth in both divisions driven by our newly launched medicines and diagnostic tests. In addition, we have now made ten targeted acquisitions to complement our existing portfolio in Pharma and Diagnostics. Initial demand for Esbriet, a breakthrough medicine in lung fibrosis which was recently launched in the US following the InterMune acquisition, is strong. In Diagnostics, we successfully launched the cobas 6800/8800 platform, which brings the automation of molecular testing to a new level. With our strong product portfolio and pipeline we are well positioned for the future.”
Group Results
Solid sales growth in both divisions
Group sales reached 47.5 billion Swiss francs in 2014. Growth in Pharmaceuticals was driven by medicines for HER2-positive breast cancer (+20%), as well as Avastin (+6%). New products, Perjeta and Kadcyla for HER2-positive breast cancer, made a significant contribution to growth, more than offsetting declining sales of Xeloda, a medicine that now faces generic competition. There was also strong demand for immunology medicines, notably Actemra/RoActemra (+23%) for rheumatoid arthritis and Xolair (+25%) for chronic hives and allergic asthma. Sales of Tamiflu (+54%) increased considerably late in the year, as a result of the US flu epidemic. In Diagnostics, sales continued to be driven by the Professional Diagnostics business, which grew 8%, whilst Molecular Diagnostics was 6% higher. There was also positive early uptake for the new molecular laboratory testing systems, launched during the year, the cobas 6800 and the cobas 8800.
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