Roche 1Q Sales Dragged by Diagnostics Division; Backs 2023 Outlook
April 26 2023 - 12:53AM
Dow Jones News
By Cecilia Butini
Roche Holding AG on Wednesday posted a decline in sales for the
first quarter as its diagnostics division suffered from
significantly lower demand for Covid-19 tests, and backed its
outlook for the year.
The Swiss pharma major reported sales of 15.32 billion euros
($16.82 billion) for the first quarter, down from CHF16.45 billion
in the same quarter a year prior. Sales in the pharmaceutical
division grew 9% to CHF11.70 billion, but the diagnostics division
declined 28% to CF3.62 billion, the company said. Sales of Covid-19
tests dropped to CHF0.3 billion in the first quarter, from CHF1.9
billion in the same period a year ago, when the Omicron variant of
the coronavirus drove demand.
The company backed its outlook for the year, saying that it
expects a decrease in group sales in the low-single-digit range at
constant exchange rates, due to a CHF5 billion decline in the sales
of Covid-19 products. Excluding the Covid-19 sales decline, Roche
said it anticipates solid sales growth.
Core earnings per share are expected to develop broadly in line
with the sales decline, and the company expects to further increase
its dividend, it said.
Write to Cecilia Butini at cecilia.butini@wsj.com
(END) Dow Jones Newswires
April 26, 2023 01:38 ET (05:38 GMT)
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