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.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100