The After-Effects of Corona at Roche are Gradually Decreasing
Published: Thursday, Oct 19th 2023, 07:00
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Roche, the Swiss pharmaceutical company, reported a 6% decrease in revenue for the first nine months of 2020 compared to the same period in 2019. However, when excluding Covid-19 related sales, the revenue increased by 9%. The company's two divisions, Pharmaceuticals and Diagnostics, reported a 1% and 25% decrease in revenue respectively. The five main growth drivers for the Pharmaceuticals division were Vabysmo, Ocrevus, Hemlibra, Polivy and Evrysdi. The Diagnostics division was mainly driven by immunodiagnostics and clinical chemistry solutions.
Roche's outlook for the full year remains cautious, with a low single-digit decrease in revenue expected. The company also expects the core earnings per share to decrease in line with the revenue. Excluding Covid-19 related sales, the company expects a strong underlying sales growth in both divisions. The negative currency impact is estimated to be 7%. Biosimilars of Avastin, Herceptin and Mabthera are expected to cause a revenue decrease of 1.1 billion, lower than the previously estimated 1.6 billion.
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