Swiss pharma giant Roche's first-quarter sales edge higher as its emerges from post-Covid-19 slump [CNBC]
ROCHE HOLDING LTD S/ADR (RHHBY)
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Source: CNBC
Sales were up 2% at constant exchange rates, led by stronger demand for Roche's newer medicines and diagnostics, the company said. Excluding Covid-19 products, sales were up 7%. But sales tightened when reported in the company's local currency, down 6% off the back of a strong Swiss franc. Roche CEO Thomas Schinecker on Wednesday confirmed the company's 2024 outlook, saying it was largely out of the woods following a post-Covid-19 slump. “After this quarter, the COVID-19-related impact on sales is largely behind us,” he said. Roche had issued a more-modest-than-expected 2024 growth outlook in February, Reuters reported, as the company continues to confront a drop-off in demand for its Covid-19 products and a number of its cancer drugs. At the time, the company forecast annual group sales would grow by a mid-single digit percentage when adjusted for currency fluctuations. “We are confident of growing our Group sales in the mid single digit range this year (at constant exch
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