Roche 1st Half Net Profit Rose as Diagnostics Division Drove Sales Growth
July 21 2022 - 2:08AM
Dow Jones News
By Maitane Sardon
Roche Holding AG said Thursday that profit for the first half of
the year increased as sales grew, mainly driven by the diagnostics
division.
The Swiss pharmaceutical company posted a net profit of 8.53
billion Swiss francs ($8.78 billion) compared with CHF7.80 billion
a year earlier on sales that rose to CHF32.29 billion from CHF30.71
billion.
Analysts were expecting sales to rise to CHF31.95 billion,
according to a company-compiled consensus.
Operating profit rose to CHF11.54 billion from CHF10.08
billion.
Sales at the company's pharmaceuticals division rose 3% to
CHF22.35 billion, from CHF21.67 billion.
The diagnostics division recorded CHF9.95 billion in sales, up
11% from CHF9.04 billion.
"We achieved good results in the first half of the year, thanks
to the continued strong demand for our diagnostics base business
and our new medicines to treat hemophilia, cancer and neurological
disorders," chief executive officer Severing Schwan said. "Thanks
to the ongoing renewal of our portfolio, we continue to grow
despite biosimilars, whose impact declined further as
expected."
The company backed its outlook for 2022. Roche expects sales to
be stable or grow in the low-single digits, while core earnings per
share should grow in the low- to mid-single digit range at constant
exchange rates.
Write to Maitane Sardon at maitane.sardon@wsj.com
(END) Dow Jones Newswires
July 21, 2022 01:53 ET (05:53 GMT)
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