Roche CEO rules out generics market entry amid strength in pharma portfolio |
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Wed, 07 Feb 2007 11:07
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ZURICH (AFX) - Roche Holding AG chairman and chief executive Franz Humer has ruled out that Roche will enter the generics market, citing the healthy nature of the group's existing pharmaceuticals portfolio.'Given our very young pipeline, complex drugs, and no key patent expiry, I do not expect the growing generics market to put pressure on us,' Humer said after the release of record-beating full year results.Margins in the pharma sector have come under increasing pressure as a growing number of cheaper generic drugs have entered the market.Meanwhile, Roche's cross-town rival Novartis AG has swallowed a sizeable chunk of the lucrative generics market by assembling a significant portfolio of generics businesses under the roof of its Sandoz unit.afx.zurich@afxnews.comjmt/at/cmrCOPYRIGHTCopyright AFX News Limited 2006. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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