Indianapolis division is drag on Roche profit

Roche Diagnostics operating income plummeted 21 percent last year, to $1.1 billion, as expiring patents crimped royalties and costs to launch new products increased, its Swiss parent, Roche Holding AG, reported today.

The Indianapolis-based division, which is a leader in blood-sugar test kits, limited the parent company’s overall increase in profit to 33 percent, or $6.35 billion, less than analysts expected, according to Bloomberg. Roche does not report quarterly financial performance.