Swiss pharmaceutical company Roche reported a 2% increase in first-quarter sales at constant exchange rates, led by stronger demand for its newer medicines and diagnostics. Excluding COVID-19 products, sales were up 7%. However, sales tightened when reported in the company’s local currency, down 6% off the back of a strong Swiss franc. Roche CEO Thomas Schinecker confirmed the company’s 2024 outlook, saying it was largely out of the woods following a post-COVID-19 slump. “After this quarter, the COVID-19-related impact on sales is largely behind us,” he said. Roche had issued a more modest-than-expected 2024 growth outlook in February as the company continues to confront a drop-off in demand for its COVID-19 products and a number of its cancer drugs. At the time, the company forecast annual group sales would grow by a mid-single-digit percentage when adjusted for currency fluctuations. “We are confident of growing our Group sales in the mid-single-digit range this year (at constant exchange rates) and therefore we confirm our outlook for 2024,” Schinecker said Wednesday.
Roche Reports Modest Sales Increase, Confirms 2024 Outlook
