Despite a more challenging market, Roche Holdings’ confirmed its full-year outlook on Thursday and posted an 8% jump in its first-half net income because of more drug and diagnostics sales. The Swiss pharmaceutical company also noted that the U.S. Food and Drug Administration has voted to halt the use of Roche’s Avastin drug for treating some advanced forms of breast cancer, with a final decision expected in September.
The world’s largest maker of cancer medicines said net profit for the first six months of the year rose to 5.47 billion Swiss francs, or about $5.21 billion, from 3.47 billion francs a year earlier, undercutting analysts views of $5.62 billion. The company said sales rose 3% to 24.64 billion francs from 24.01 billion francs as the company’s key cancer drugs Avastin, Mabthera and Herceptin registered healthy growth. Analysts had expected Roche sales of 24.74 billion francs.