Roche (SWX: ROG, OTCMKTS: RHHBY, SWX: RO), the Swiss pharmaceutical and diagnostics giant, has reported its financial results for the first half of 2024, with group sales remaining stable in Swiss franc terms. However, on a constant exchange rate basis, sales increased by 5% year-on-year to CHF 29.85 billion (USD 33.87 billion). Both the Pharma and Diagnostics divisions reported a 5% growth in constant currency terms, with the Pharma division reaching CHF 22.64 billion (USD 25.69 billion) and Diagnostics reaching CHF 7.21 billion (USD 8.18 billion). Excluding COVID-19 related sales, Pharma sales grew by 8% and Diagnostics by 9%.
Roche’s CEO, Thomas Schinecker, expressed satisfaction with the company’s strong performance, highlighting a Q2 acceleration in group sales and the expected waning impact of COVID-19 related sales. In response to the performance, Roche has upgraded its full-year guidance for core earnings per share (EPS) from being “broadly in line with sales” to anticipating “high single-digit core EPS growth.”
During the six-month period, key growth drivers for Roche included the ophthalmic injection Vabysmo (faricimab), which saw a 93% increase in sales to CHF 1,794 million (USD 2,035 million). The breast cancer treatment Phesgo (pertuzumab / trastuzumab / hyaluronidase) is gaining traction, with a 60% rise in sales to CHF 799 million (USD 907 million) as patients switch from Perjeta (pertuzumab). Sales of Evrysdi (risdiplam) for spinal muscular atrophy grew by 25% to CHF 838 million (USD 951 million). Other core products contributing to growth were the multiple sclerosis therapy Ocrevus (ocrelizumab), the haemophilia treatment Hemlibra (emicizumab), and the antibody-drug conjugate Polivy (polatuzumab vedotin) for blood cancers.
Internationally, Roche’s strongest region was the International area, with a 17% increase in sales, driven by demand for Perjeta, Evrysdi, Phesgo, and the PD-L1 cancer therapy Tecentriq. This growth included the China market, where sales rose by 14% year-on-year, fueled by Perjeta, the lung cancer drug Alecensa (alectinib), liver cancer therapy Avastin (bevacizumab), Polivy, and the flu therapy Xofluza (baloxavir marboxil).- Flcube.com
