CLT Solutions , Things are looking good for Roche as they post better than expected profits.
By CLT Solutions science correspondent.
Roche has gone against the grain and beat off the recession by posting profit this quarter.
Roche had posted a 7 percent rise in sales, showing that maybe the worst of the global downturn has passed.
This good news for Roche is on the back of last months news in which they brought the American giant bio-tech firm Genentech for over $40 billion.
A spokesperson for Roche has said that it expects to reach its targets for the year. CLT Solutions analyst said, it shows how resilient the firm is, not only have they weathered the worst of the economic storm but they also had the confidence and clout to buyout Genentech. This is good news for stockholders of Roche.
CLT Solutions analyst does go on to explain that its normal to see good results from pharmaceutical companies as its the last thing consumers cut back on. But Roches performance has still surprised industry experts as at the end of last year their stock price dropped dramatically.
CLT Solutions believes that an increase of 7 percent is very good going in this climate and that it shows that Roche continues to be good value for money.
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