Roche Q1 sales up 10%, confirms 2022 outlook

Original from: Reuters

April 25, Swiss drugmaker Roche's (ROG.S) first quarter sales rose a better-than-expected 10% on strong U.S. demand for rapid COVID-19 antigen tests and drugs including Ocrevus against multiple sclerosis as well as Hemlibra against haemophilia.

Quarterly sales rose to 16.44 billion Swiss francs ($17.17 billion), up from 14.93 billion Swiss francs in the year-earlier period, the company said on Monday. That was slightly above a market consensus of about 16 billion francs.

The diagnostics division accounted for most of the positive surprise, reporting sales growth of 24% to 5.3 billion francs on usage of its COVID-19 tests and cardiac tests.

Roche reiterated that it expected currency-adjusted 2022 sales to be flat or grow in the low-single-digit percentage range, below last year's 9% gain.

It also reaffirmed that sales of COVID-19 medicines and diagnostics would decrease by about 2 billion Swiss francs this year to around 5 billion francs.

Source: Roche Q1 sales up 10%, confirms 2022 outlook