Swiss drug major Roche (RHHBY) reported that its group sales for the first-quarter declined 6% to 14.40 billion Swiss francs from 15.32 billion francs last year. At constant exchange rates, quarterly sales increased 2% as strong demand for newer medicines as well as diagnostics products including immunodiagnostics, clinical chemistry tests and advanced staining solutions more than offset the anticipated decline in COVID-19-related sales and the impact of biosimilar/generic erosion.
After the latest quarter, the impact of the drop in COVID-19-related sales is largely over and there will be no further material impact on Group sales.
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