Roche posts record 2006 net profits, boosted by cancer drugs

Switzerland-based pharmaceutical major Roche has reported record results for 2006, with net income leaping 34% to 9.2 billion Swiss francs ($7.37 billion) on group sales that increased 17% to 42.0 billion francs. The figures were mostly above analysts expectations, although Bloomberg said they were less than estimates, noting that its poll of analysts produced a consensus forecast of 8.0 billion francs for full-year net profit.

The stock declined 2.8% to 231.90 francs on the morning of the announcement, February 7, as some investors decided to take profit and others were disappointed that Roche had not given more aggressive guidance for 2007.

Pharma sales growth three times market