(CercleFinance.com) - Swiss pharmaceutical company Roche on Wednesday maintained its 2023 guidance following a first-quarter sales decline linked to lower demand for Covid tests.
As expected, a significant drop in demand for Covid tests led to a decline in its sales to 15.3 billion Swiss francs in the quarter, from 16.4 billion a year earlier, a drop of 7%. At constant exchange rates, quarterly sales were down 3%.
In contrast, sales in the drug division rose by 9%, driven by strong demand for its new medicines such as Vabysmo for severe eye diseases, which is already the strongest growth driver in the division.
Excluding the decline in Covid-related sales, Roche expects solid sales growth in the core businesses of its two divisions, Pharma and Diagnostics.
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