Roche Joins Pfizer in Seeing U.S. Tax Boost to Bottom Line
- Tax rate to drop to low 20s this year from 26.6% last year
- Tax gain masks slowdown as top sellers come under pressure
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Roche Holding AG said U.S. tax cuts will boost profit this year, blunting the impact of competition to the company’s top-selling cancer medicines.
Core earnings per share will grow by a percentage in the high single digits, the Basel, Switzerland-based company said in a statement on Thursday. That compares with a 5 percent increase last year, when profit fell short of analyst estimates despite the introduction of new medicines.