Roche Ahead Of Forecasts in 1995 First Half

Roche of Switzerland has announced sales and earnings for the first six months of 1995 ahead of expectations. Group sales were 7.5 billion Swiss francs ($6.1 billion), up 2%. Net income amounted to 1.9 billion francs, an increase of 18% on the 1994 first half, and operating income advanced 16% to 1.8 billion francs.

The company said that in local currencies, sales advanced 16% in the first half. It was also noted that as of May 1, 1995, sales of diagnostic service laboratories are no longer included in the consolidated results. The inclusion of Roche's 49.9% stake in Laboratory Corporation of America yielded a consolidated sales gain of 5% in Swiss francs and 18% in local currencies.

Roche achieved pharmaceutical sales of 4.6 billion francs, ahead 13% in Swiss franc terms, or 28% in local currencies. Important gains in market presence and innovation were made with the acquisition and integration of Syntex of the USA, according to the group. The Syntex headquarters at Palo Alto has been transformed into a new Roche research center under the name Roche Bioscience.