Roche hails pharma pipeline progress as sales increase

Roche Holding AG reported robust performance in its Pharmaceuticals division, maintaining its full-year guidance. The Basel, Switzerland-based pharmaceutical giant saw sales rise 2.1% to CHF44.98 billion in the first nine months of 2023, up from CHF44.05 billion during the same period in 2022. On a currency-adjusted basis, this growth was 6%.

Roche hails pharma pipeline progress as sales increase

Pharmaceuticals sales increased by 2.7% to CHF34.26 billion, with constant currency growth of 7%. Key drivers included Vabysmo (for eye diseases), Phesgo (for breast cancer), and Ocrevus (for multiple sclerosis). Regionally, Roche's sales in the U.S. and Europe grew 7% in constant currency, though Japan experienced a 21% decline, largely due to reduced sales of Ronapreve, a COVID-19 treatment, compared to 2023's first quarter. In Diagnostics, sales edged up to CHF10.73 billion, supported by demand for immunodiagnostic, pathology, and molecular solutions. Third-quarter sales growth matched the second quarter's 9%, driven by high demand for innovative medicines and diagnostics.

CEO comment on earnings

CEO Thomas Schinecker highlighted Roche's pharmaceutical advances, including five regulatory approvals, three positive phase III results, and acquisitions that bolstered its oncology and ophthalmology portfolios. Roche reaffirmed its annual outlook, expecting mid single-digit sales growth (constant currency) and high single-digit core earnings per share growth, excluding the effects of tax settlements. It also anticipates increasing its dividend in Swiss francs.