Roche looks to personalized medicine for growth
LONDON (Reuters) - Roche Holding AG, the world's biggest maker of cancer drugs, said it would build on its drive into personalized medicine to hold onto its long-term growth momentum and said it would keep up spending on research and development.
In a statement ahead of a presentation to investors in London on Wednesday, the Swiss drugmaker said it expected 19 late stage trials to read out over the next 18 months.
"More than 60 percent of our pharmaceutical pipeline projects are coupled with the development of companion diagnostics in order to make treatments more effective," Chief Executive Severin Schwan said in a statement.
Roche said it was committed to a stable R&D budget. It spent 8.3 billion Swiss francs ($8.71 billion)on R&D in 2011. The company is also targeting growth in emerging markets as austerity-hit European markets slash healthcare budgets.
(Reporting by Caroline Copley)