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Roche Holding AG (RHHBF)
- Zacks
Roche (RHHBY) Q1 Hit by Currency Headwinds, Lower COVID-19 Sales
Roche's (RHHBY) performance in first-quarter 2024 is pretty ho-hum as COVID-19-test sales continue to decline. The top line suffers due to the appreciation of the Swiss franc against most currencies.
- Reuters
UPDATE 2-Roche eyes return to growth after Q1 hit by forex, loss of COVID sales
Roche confirmed ambitions to return to sales growth this year on a continued boost from eye drug Vabysmo, after first-quarter sales slipped by 6% on the loss on COVID-19-related revenue. Quarterly sales fell to 14.4 billion Swiss francs ($15.80 billion), the family-controlled drugmaker said in a statement on Wednesday, hurt also by a strong Swiss franc that weighed on overseas revenue but in line with analysts expectations. Roche, which does not disclose quarterly earnings, said the rest of the year would no longer be burdened by year-earlier comparisons that were inflated by COVID-related sales.
- GlobeNewswire
[Ad hoc announcement pursuant to Art. 53 LR] Roche sales increase by 2% (CER) in first quarter with both divisions growing in high single digit ex COVID-19
Group sales grew by 2%1 at constant exchange rates (CER) (-6% in CHF), driven by the strong growth of newer medicines and diagnostics. Excluding COVID-19-related products, sales increased by 7%. Going forward, there will be no further material impact of COVID-19 sales declineDue to the appreciation of the Swiss franc against most currencies, sales were 6% lower when reported in CHFPharmaceuticals Division base business2 grew by 7%, driven by strong sales of medicines to treat severe diseases, su
