Roche 2022 Sales Grew, But Expects 2023 Decline on Covid-19 Products -- Update
February 02 2023 - 1:28AM
Dow Jones News
By Cecilia Butini
Roche Holding AG reported sales growth in 2022, but said it
expects a decrease in sales for 2023 due to a drop in the sale of
Covid-19 products.
The Swiss pharma major posted sales of 63.28 billion Swiss
francs ($69.65 billion) for the full year 2022, up from CHF62.80
billion in 2021 and in line with consensus expectations. Net profit
declined to CHF13.53 billion from CHF14.94 billion the year prior,
missing analysts' expectations of CHF15.09 billion.
Core operating profit grew to CHF22.17 billion in the year from
CHF21.90 billion the year prior, and core earnings per share also
grew to CHF20.30 from CHF19.81 in 2021, the company said.
The company's pharmaceutical division increased sales slightly
in 2022 on the back of newer medicines to treat severe diseases, it
said. Sales of Covid-19 medicines were lower, and the drop in sales
of Actemra/RoActemra to treat severe Covid-19 pneumonia was only
partially made up by the sales growth of treatment Ronapreve in
Japan, Roche said.
The company's diagnostics division also increased sales
slightly, despite a decline in demand for Covid-19 tests in the
second half of the year, it said.
For the year ahead, Roche expects a decrease in sales due to a
previously announced CHF5 billion decline in Covid-19 product
sales, it said. The expected sales drop is in the low-single digit
at constant exchange rates. When excluding the Covid-19 sales
decline, the company anticipates "solid underlying sales growth" in
both its pharmaceutical and diagnostics division, it said.
Separately, Roche said it has appointed Teresa Graham as new
chief executive officer for Roche Pharmaceuticals as of March 2023.
Ms. Graham is currently head of global product strategy for Roche
Pharmaceuticals. Levi Garraway, currently chief medical officer and
executive vice president of Global Product Development, will become
a member of the enlarged corporate executive committee, the company
said.
Write to Cecilia Butini at cecilia.butini@wsj.com
(END) Dow Jones Newswires
February 02, 2023 02:13 ET (07:13 GMT)
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