Roche 1Q Sales Beat Expectations; Backs 2022 Outlook
April 25 2022 - 1:51AM
Dow Jones News
By Cecilia Butini
Roche Holding AG on Monday posted a sales increase for the first
quarter that beat analysts' expectations, and backed its outlook
for the full year despite an expected decrease in the sales of
Covid-19 medicines and diagnostics.
The Swiss pharma major reported sales of 16.45 billion Swiss
francs ($17.19 billion) for the quarter, up from CHF14.93 billion
the year prior, and beating analysts' expectations of CHF16.11
billion.
The company's diagnostics division--which has been driven by
sales of Covid-19 products during the pandemic--posted increased
sales of CHF5.29 billion in the quarter compared with CHF4.33
billion the year prior. Roche's pharmaceuticals division also
posted an increase in sales to CHF11.16 billion from CHF10.60
billion.
Roche backed its outlook for 2022, saying that sales are
expected to be stable or grow in the low-single digits at constant
exchange rates, including an expected decrease in the sales of
Covid-19 diagnostics. Excluding these effects--where sales of
Covid-19 products are expected to decrease by about CHF2
billion--sales should grow in the high-single digit range, the
company said.
Core earnings per share are seen rising in the low- to
mid-single digit range at constant exchange rates, Roche said.
Write to Cecilia Butini at cecilia.butini@wsj.com
(END) Dow Jones Newswires
April 25, 2022 01:36 ET (05:36 GMT)
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