Leading global player in fast-growing oncology indication Pharmaceuticals division's sales growth significantly ahead of market growth Well stocked late stage pipeline Efficient research and development Relatively young and well-diversified patented drug portfolio Strong free cash flow generation Conservative financial policy Slight underrepresentation in lucrative U.S. pharmaceuticals market The ratings on Switzerland-based pharmaceuticals and diagnostics group Roche Holding AG (Roche) reflect the group's excellent business position, based on high growth rates in its pharmaceuticals division, its global No.1 position as a provider of oncology drugs, well-stocked late-stage pipeline, and conservative financial profile. The ratings are constrained by Roche's slight underrepresentation in the high-margin U.S. pharmaceuticals market. The company's total financial debt was Swiss franc (CHF) 6.9 billion ($6.1 billion) on Dec.
