Roche 3Q Sales Dragged by Lower Demand for Covid-19 Products; Backs 2022 View
October 18 2022 - 1:58AM
Dow Jones News
By Cecilia Butini
Roche Holding AG on Tuesday reported lower sales for the third
quarter as demand for Covid-19-related products dwindled, and
backed its outlook for 2022.
The Swiss pharma major posted sales of 14.74 billion Swiss
francs ($14.80 billion) for the quarter, down from CHF15.97 billion
in the same period of 2021. For the first nine months of the year,
the company reported sales of CHF47.04 billion, up from CHF46.68
billion the year prior. It said that sales growth was offset by a
decline prompted by competition from biosimilars, especially in
some of its cancer treatments.
Sales of Covid-19 medicines Actemra/RoActemra and Ronapreve
declined by about CHF1 billion in the period, the company said.
Roche backed its outlook for 2022, saying that it expects stable
sales or sales growth in the low-single-digit range at constant
exchange rates. Core earnings per share are expected to grow in the
low- to mid-single-digit range at constant exchange rates, and
dividend is expected to be raised, the company said.
Write to Cecilia Butini at cecilia.butini@wsj.com
(END) Dow Jones Newswires
October 18, 2022 01:43 ET (05:43 GMT)
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