Roche's 1H Earnings Decline On Lower COVID-19 Sales, CFO Says Late-Stage Pipeline Has Gaps That Needs To Be Filled
Portfolio Pulse from Vandana Singh
Roche Holding AG reported a decline in 1H 2023 sales to CHF 30.62 billion from CHF 33.9 billion in the same period last year, due to the tapering of demand for COVID-19 tests. The company's CFO, Alan Hippe, highlighted the need for superior drug development projects in later stages to enhance the company's stock market value. He also noted that the company's share price was negatively impacted due to the decline in COVID-19-related demand.
July 27, 2023 | 2:58 pm
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NEGATIVE IMPACT
Roche noted that about 70% of the U.S. patients for its drug Vabysmo switched from Regeneron Pharmaceuticals' Eylea.
The fact that a significant percentage of patients are switching from Regeneron's Eylea to Roche's Vabysmo could potentially impact Regeneron's sales and stock price negatively in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Roche's 1H 2023 sales dropped due to lower demand for COVID-19 tests. The company's CFO emphasized the need for superior drug development projects to enhance the stock market value.
The decline in sales and the CFO's comments about the need for superior drug development projects indicate potential challenges for the company, which could negatively impact the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100