Roche Q3 Sales Drop As Tamiflu Demand Fades
From Associated Press (October 14, 2010)
GENEVA -- Pharmaceuticals maker Roche Holding AG says its third quarter sales dropped 7 percent on lower demand for its antiviral Tamiflu.
Sales were 11.5 billion Swiss francs ($12 billion) in the quarter ended Sept. 30, down from 12.4 billion Swiss francs a year earlier.
The company said in a statement Thursday that sales of Tamiflu, which had spiked during the swine flu pandemic, almost ground to a halt in the U.S. and European markets. The group said it expects Tamiflu sales in the year to total 1 billion Swiss francs, down from 3.2 billion in 2009.
Despite the drop, Roche confirmed its full-year outlook of sales growth in the mid-single-digit range.
Posted: October 2010