logo
  

Roche Q1 Group Sales Up 11% At CER

Swiss drug major Roche Holding AG (RHHBY) reported that its first quarter group sales increased 11% at constant exchange rates and 10% in Swiss francs year-over-year to 16.4 billion francs.

Diagnostics Division sales grew 24% at constant exchange rates due to good momentum in base business and continued high demand for COVID-19 tests. After a strong first quarter, significant decline in COVID-19-related testing expected.

At constant exchange rates, Pharmaceuticals Division sales increased by 6% to 11.2 billion francs. Newly launched medicines to treat severe diseases continued their strong growth, including Ronapreve (COVID-19; mainly in Japan), Ocrevus (multiple sclerosis), Hemlibra (haemophilia), Evrysdi (spinal muscular atrophy) and Phesgo (breast cancer).

The company confirmed its outlook for its fiscal year 2022.

The company still expects annual core earnings per share to grow in the low- to mid-single digit range (at constant exchange rates), including the accretive effect of the 2021 share repurchase. Sales are expected to be stable or grow in the low-single digits at constant exchange rates.

Roche expects to increase its dividend in Swiss francs further.

Roche anticipates sales of COVID-19 medicines and diagnostics to decrease by approximately 2 billion francs to around 5 billion francs, and sales losses to biosimilars in the current year to be roughly 2.5 billion francs. Excluding the effects, Group sales are expected to grow in the high-single digit range.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The US Centers for Disease Control and Prevention or CDC has ended recommendations for social distancing and quarantine with a view to minimize covid-19's impact on persons, communities, and health care systems. The agency also ended recommendation for test-to-stay in schools, CNN noted. Healthcare major Johnson & Johnson, which is in the middle of a talcum powder fiasco, said it is discontinuing talc-based JOHNSON'S Baby Powder globally in 2023. The company plans to transition to an all cornstarch-based baby powder portfolio. According to the company, the commercial decision to use cornstarch in all its baby powder products was made after conducting an assessment of its portfolio Walt Disney's streaming service Disney+ is rolling out its much-anticipated new ad-supported subscription plan for Disney+ in the U.S. as part of its bid to stem the loss and make its streaming business profitable after the services posted a hefty operating loss of more than $1 billion in the third quarter. It is also raising pricing for its bundled subscription plans with Hulu, ESPN+ and live TV.
Follow RTT