Roche reports 7% growth for 1st qtr, despite recession, with Genentech merger looming

Swiss drug major Roche has reported 7% growth in sales during the first quarter of 2009, despite the current economic turmoil, as it prepares to  complete its acquisition of the USA's Genentech.

Revenue reached 11.58 billion Swiss francs ($10.17 billion), versus  10.86 billion francs in the same period of last year. This included  pharmaceutical turnover of 9.22 billion francs, up 8%, and diagnostics  sales of 2.36 billion francs, an increase of 3%.

US revenue advanced 8% to 3.59 billion francs, while Japanese sales  rocketed 70% to 1.14 billion francs. The rest of the world generated  4.49 billion francs, down 2%.