Roche Reports Nine Months Sales Growth Despite Lower Sales From COVID-19 Products
Portfolio Pulse from Vandana Singh
Roche Holdings AG reported a 1% increase in nine-month sales to CHF 44.1 billion, despite a significant drop in sales of COVID-19 products and biosimilar erosion. Excluding COVID-19 products, Group sales grew by 9%. The company expects a decrease in group sales and adjusted earnings per share in the low single-digit percentage range in 2023. Roche predicted a decline in sales of COVID-19 products of about CHF 4.5 billion. The Diagnostics Division achieved sales of CHF 10.4 billion, a decrease of 18% due to a drop in demand for COVID-19 tests.
October 19, 2023 | 12:46 pm
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Roche's nine-month sales increased by 1% despite a drop in COVID-19 product sales. The company predicts a decrease in group sales and earnings per share in 2023.
Roche's sales growth despite a drop in COVID-19 product sales indicates resilience. However, the predicted decrease in group sales and earnings in 2023 could potentially impact the stock negatively in the short term.
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