Roche Says Swiss Franc’s Surge May Erode Profit Growth This Year
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Roche Holding AG, the world’s largest seller of cancer drugs, said the Swiss franc’s surge may strip 9 percentage points from growth in operating profit this year.
The currency’s strength will probably pare 6 percentage points from sales growth, based on the average exchange rate for January, Chief Financial Officer Alan Hippe said at a press conference in Basel today. The company’s earnings failed to climb for the first time in three years in 2014 due to unfavorable exchange rates and higher costs, it reported today.