Fewer sales: Roche continues to suffer from loss of Corona sales

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Roche’s sales in the first nine months of this year amounted to 44.1 billion francs, down 6 percent compared to the previous year. The Basel pharmaceutical company announced this on Thursday. At constant exchange rates, sales increased 1 percent. Thus, Roche narrowly exceeds its own target.

The contribution of the pharmaceutical division, the larger of the two business areas, to sales amounted to 33.6 billion francs, an increase of 1 percent compared to the previous year. The smaller diagnostic division continues to feel the effects of the loss of Corona sales, as evidenced by the 25 percent decline in sales to 10.4 billion francs.

Figures reported for the group are slightly below analysts’ estimates. Roche traditionally does not present nine-month profit figures.

A slight decrease in sales is expected

Roche management maintains its cautious outlook for the 2023 fiscal year. At constant exchange rates, the group continues to expect a decline in sales in the low single-digit percentage range. Core earnings per title are also expected to decline in line with sales in the low single-digit percentage range.

Excluding the sharp decline in Covid-19 sales – Roche currently estimates the relevant sales decline at around 4.5 billion francs – management now expects strong underlying sales growth in both divisions. The group also continues to strive to increase the dividend in Swiss francs. (SDA/kae)

Source :Blick