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Roche ''pleased with fiscal results''

16 Apr 2009

Despite the global financial downturn, pharmaceutical firm Roche is positive about hitting its monetary targets for this year.

The company''s oncology, virology, inflammation and ophthalmology products have helped it achieve an eight per cent sales increase during the first quarter of 2009.

Chief executive Severin Schwan explained the fact the business has grown at twice the rate of the global market shows how well it is doing.

He noted Roche''s acquisition of Genetech has allowed it to incorporate members of its new partner''s workforce into its own operations.

"We are delighted that … many outstanding individuals from both Genentech and Roche have committed themselves to driving forward the combined businesses," Mr Schwan added.

The company is set to update its full-year outlook to include the impact of the merger when it releases its half-year results in the summer.

It recently announced Arthur Levinson would take over as chair of Genetech board of directors.