FX.co ★ Roche Q1 Group Sales Down 6%; Confirms 2024 Outlook - Quick Facts

Swiss pharmaceutical giant Roche has reported that its group sales for the first quarter have decreased by 6%, taking them to 14.40 billion Swiss francs in comparison to last year's 15.32 billion francs. However, with the exclusion of foreign exchange rates, there has been a 2% increase in quarterly sales due to a strong demand for new medicines, diagnostic products, immunodiagnostics, clinical chemistry tests, and advanced staining solutions. These sales compensate for the expected decline in sales related to COVID-19 treatments and the effect of biosimilars/generic products.

The impact of decreased COVID-19-related sales largely concluded after the recent quarter and is not expected to significantly influence future group sales. If COVID-19 products are excluded, the sales in the reported quarter grew by 7%.

Looking forward to the financial year of 2024, Roche remains optimistic about an increase in group sales in the mid single digit range, keeping constant exchange rates in mind. The core earnings per share are projected to align broadly with sales growth at constant exchange rates, excluding the effect of resolving tax disputes in 2023. The company also anticipates a further increase in its dividend in Swiss francs.