Roche Group Sales In Q3, 9M Rise; Confirms FY24 Outlook

(RTTNews) - Swiss drug major Roche Group (RHHBY) reported Wednesday that its third-quarter Group sales increased 6 percent from last year on a reported basis and 9 percent at constant exchange rates or CER.

In the first nine months of the year 2024, Group sales increased 2 percent to 44.98 billion Swiss francs from last year's 44.05 billion francs. At CER, sales grew 6 percent.

The company noted that strong demand for novel medicines as well as diagnostic products including immunodiagnostic, pathology and molecular solutions more than offset the anticipated decline in COVID-19-related sales and the impact of biosimilar/generic erosion.

The Pharmaceuticals Division's CER sales increased 7 percent from last year to 34.26 billion francs. The base business sales, excluding COVID-19, grew 9 percent, driven primarily by higher sales of Vabysmo for severe eye diseases, Phesgo for breast cancer, Ocrevus for multiple sclerosis, Hemlibra for haemophilia and Polivy for blood cancer.

In the United States as well as in Europe, sales grew 7 percent in the period.

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

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