Roche Sales Grow By Currency-Adjusted 6 Pct In First Nine Months

GENEVA, Oct 23 (Bernama-dpa) -- Swiss drug major Roche reported on Wednesday that Group sales increased by 6 per cent on a currency-adjusted basis to 44.98 billion Swiss francs (US$51.8 billion) from last year's 44.05 billion francs, according to the German news agency (dpa).

The company noted that strong demand for novel medicines like eye drug Vabysmo and multiple sclerosis treatment Ocrevus, as well as diagnostic products, more than offset the anticipated decline in Covid-19-related sales and margin erosion due to generics.

The Pharmaceuticals Division's sales increased by 7 per cent from last year to 34.26 billion francs. The base business sales, excluding Covid-19 products, grew by 9 per cent.

In the United States as well as in Europe, sales rose by 7 per cent in the period.

Further, for fiscal 2024, the company continues to expect an increase in currency-adjusted group sales in the mid-single digit range. Core earnings per share are still targeted to grow in the high-single digit range, excluding the impact from the resolution of tax disputes in 2023.

Roche added that it expects to further increase its dividend in Swiss francs.

-- BERNAMA-dpa