Roche Group, the Swiss pharmaceutical giant, released figures Wednesday indicating a 6% rise in Group sales for the third quarter, with a more robust 9% growth observed at constant exchange rates (CER).
During the first nine months of 2024, Roche reported a 2% year-on-year increase in sales, totaling 44.98 billion Swiss francs, up from 44.05 billion francs in the previous year. When evaluated at CER, this increase stands at 6%.
The firm attributed its performance to strong demand for new medications and diagnostic tools, such as those related to immunodiagnostics, pathology, and molecular solutions. This growth was sufficient to counterbalance the predicted decrease in sales related to COVID-19 and the impact of generic and biosimilar competition.
The Pharmaceuticals Division reported a 7% increase in CER sales, reaching 34.26 billion francs. Excluding contributions from COVID-19 products, the division's core business saw a 9% sales boost, largely fueled by higher demand for medications like Vabysmo for severe eye diseases, Phesgo for breast cancer, Ocrevus for multiple sclerosis, Hemlibra for hemophilia, and Polivy for blood cancer.
Both the U.S. and European markets experienced a 7% growth in sales over the period.
Looking ahead to fiscal 2024, Roche maintains its forecast of mid single-digit percentage growth in Group sales at CER. The company also continues to project a high single-digit increase in core earnings per share, with adjustments made to exclude the outcomes from the resolution of tax disputes in 2023. Furthermore, Roche anticipates another rise in its dividend distribution in Swiss francs.
