Monday, July 15, 2024

Roche Achieves Strong Sales Growth Despite COVID-19 Product Demand Decline

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Swiss pharmaceutical giant Roche has demonstrated impressive performance in the first nine months of 2023, achieving a 1% increase in group sales when measured at constant exchange rates (CER). Notably, the third quarter showed even more robust growth, with a remarkable 7% increase. When COVID-19 product sales are excluded, the group’s sales have surged by an impressive 9%.

A significant driver behind this success has been Roche’s Pharmaceuticals Division, which saw a substantial 9% increase in sales. This growth is primarily attributed to the ongoing high demand for newer medicines. Sales of these innovative medications witnessed particularly strong increases in key markets. Notably, in the United States, sales grew by 8%, predominantly powered by the successful performance of medicines such as Vabysmo, Ocrevus, and Hemlibra. Similarly, sales in Europe saw a 7% increase, primarily boosted by key countries like Germany, the UK, and France.

Japan experienced a remarkable 10% increase in sales, largely due to the success of medicines like Ronapreve, Polivy, Vabysmo, Hemlibra, Enspryng, and Tamiflu. Roche’s International region demonstrated an impressive 12% sales growth, with strong performances across major markets like Brazil and Canada. Notably, China witnessed a 6% increase in sales, driven by successful medicines including Tamiflu, Xeloda, Polivy, and Perjeta.

On the Diagnostics Division front, sales in the base business surged by a remarkable 7%, with strong growth seen across major markets. The primary drivers of this growth have been immunodiagnostics, particularly cardiac tests, and diagnostic solutions for clinical chemistry.

However, the overall Diagnostics Division experienced an 18% decrease in sales. This decline is largely due to the expected significant drop in demand for COVID-19 tests, which amounted to CHF 0.4 billion in the first nine months of 2023. This decline contrasts with the same period last year when COVID-19 tests contributed CHF 3.6 billion to the division’s sales.

In a year where COVID-19-related product sales have experienced a sharp decline, Roche’s success underscores its adaptability and resilience. As the demand for newer medicines and cutting-edge treatments continues to grow, Roche remains at the forefront of innovation, offering hope to both patients and investors. The company is well-positioned for continued success in a post-pandemic environment.

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