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A sustainable business model based on innovation and ... - Roche

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Profitability measures<br />

Operating cash flow per employee<br />

CHF 000’s<br />

250<br />

Operative Cash Flow per employee<br />

200<br />

<strong>Roche</strong><br />

150<br />

100<br />

GSK<br />

Sanofi-Aventis<br />

Novartis<br />

50<br />

0<br />

2003<br />

2004 2005 2006<br />

2007<br />

SDI Analysis; Source: Annual Reports of corresp<strong>on</strong>ding companies, datastream, currency rates (average 365 days)<br />

31

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