Roche's Outperformance In Emerging Markets Dampened By Currency Effects

BMI View: In the short term, BMI believes Swiss drugmaker Roche will be forced to implement cost- cutting measures in order to maintain profit growth, given the Swiss currency's negative effects on the competitiveness of the firm's exports. Nevertheless, Roche's strengths in the personalised medicines sector, coupled with its strong pipeline and large product portfolio - containing mainly hard-to-copy biological drugs - places the firm in a strong position for revenue growth in the long

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