2023-10-19 05:11:03
Zurich (awp) – The pharmaceutical and diagnostics colossus Roche generated a turnover of 44.05 billion Swiss francs over the first nine months of the year, down 6% year-on-year. Management still excludes any growth over the entire financial year, including at constant exchange rates.
The core business in pharma increased slightly by 1% to 33.62 billion, while diagnostic devices brought in 10.43 billion, a sharp decline of 25%, according to figures published Thursday.
The performance falls at the lower end of the projections made by analysts consulted by AWP, which projected revenues of 44.25 billion Swiss francs on average. The main Pharma unit was expected to post revenues of 33.60 billion, while the contribution of Diagnostics was expected to be 10.53 billion.
The Rhineland multinational is still counting on a decline of 1 to 5% in revenues and adjusted earnings per share excluding currency effects. Management had already warned that revenues from the Covid-19 franchise were expected to evaporate by around 5 billion Swiss francs, while the shortfall attributable to biosimilars was estimated at 1.6 billion.
The Covid bias should become negligible from the start of next year.
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