Roche 1Q Sales CHF16.45B

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By Cecilia Butini
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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.

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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.

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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 [email protected]

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Credit: www.marketwatch.com /

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