Swiss pharmaceutical and diagnostics giant Roche (SWX: ROG) has reported a 2% year-on-year (YOY) increase in turnover at constant exchange rates (CER) for the first quarter of 2024, reaching CHF 14.4 billion (USD 15.7 billion). The growth was modest but steady, driven by newer medicines and diagnostics, which compensated for the decline in COVID-19 related sales.
Both the pharmaceuticals and diagnostics divisions reported a 2% YOY increase, contributing CHF 10.9 billion (USD 11.9 billion) and CHF 3.5 billion (USD 3.8 billion) respectively to the company’s top line.
The standout performers among Roche’s drugs were multiple sclerosis (MS) therapy Ocrevus (ocrelizumab) with CHF 1.7 billion (USD 1.8 billion) after an 8% YOY increase, haemophilia treatment Hemlibra (emicizumab) with CHF 1.0 billion (USD 1.1 billion) after an 8% YOY leap, and cancer immunotherapy Tecentriq (atezolizumab) with CHF 865 million (USD 946 million), marking a 1% YOY increase. Ophthalmology injection Vabysmo (faricimab) was a key growth driver, soaring 108% to CHF 847 million (USD 926 million).
On the other hand, sales of eye disease medicine Lucentis (ranibizumab), antifibrotic Esbriet (pirfenidone), arthritis therapy Actemra/RoActemra (tocilizumab), and established oncology therapies Avastin (bevacizumab), Herceptin (trastuzumab), and MabThera/Rituxan (rituximab) were impacted by biosimilar/generic erosion, totaling a decline of CHF 0.4 billion (USD 0.4 billion).
Roche’s pharmaceutical division’s Q1 sales in key markets were as follows: the US with CHF 5.7 billion (USD 6.2 billion) after a 5% YOY increase, Europe with CHF 2.2 billion (USD 2.4 billion) after an 11% YOY rise, and Japan with CHF 649 million (USD 710 million) after a significant 45% YOY decline. The rest of the world expanded by 12% to CHF 2.4 billion (USD 2.6 billion), with China’s market jumping by 11%, driven by demand for antiviral Xofluza (baloxavir marboxil), Perjeta, Avastin, Tecentriq, and antibody-drug conjugate (ADC) Polivy (polatuzumab vedotin).- Flcube.com
