Roche 1Q Sales Rose; Backs 2020 View
April 22 2020 - 01:55AM
Dow Jones News
By Giulia Petroni
Roche Holding AG said Wednesday that sales rose in the first
quarter and backed its full-year outlook.
The Swiss pharma giant said sales in the period came in at 15.14
billion Swiss francs ($15.61 billion) from CHF14.82 billion in the
previous-year period. Analysts had forecast sales at CHF14.65
billion, according to a consensus compiled by FactSet.
Key growth drivers were cancer medicine Tecentriq, hemophilia
medicine Hemlibra, multiple sclerosis medicine Ocrevus and breast
cancer medicine Perjeta, according to the company.
Sales at the pharmaceuticals divisions came in at CHF12.26
billion, up 7% on year at constant exchange rates. Sales rose 5% to
CHF2.88 billion at the diagnostics division.
Roche confirmed its outlook for 2020, saying it expects sales to
grow in the low-to-mid single-digit range, at constant exchange
rates, and targeting core earnings to grow broadly in line with
sales. The company said it expects to increase its dividend
further.
Roche said global supply chains for medicines and tests remain
intact in spite of the coronavirus pandemic and market volatility
has had a limited impact on its performance in the first
quarter.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
April 22, 2020 01:40 ET (05:40 GMT)
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