Roche Holding, the Swiss pharmaceutical giant, has reaffirmed its guidance for 2023 despite a decline in sales during the first nine months of the year. While the pharmaceutical division saw modest growth, this was overshadowed by a significant drop in diagnostics sales due to weaker demand caused by the ongoing Covid-19 pandemic.
According to Roche’s latest report, sales for the first nine months totaled 44.05 billion Swiss francs ($49 billion), representing a 6% decrease compared to the previous year. The pharma division experienced a 1% increase in sales, while diagnostics sales plummeted by 25%.
However, when accounting for currency fluctuations, the company reported a 1% sales growth for the year-to-date period and a 7% increase in the third quarter alone.
Looking ahead, Roche anticipates a low single-digit decline in group sales for 2023 at constant-exchange rates. Moreover, core earnings per share are expected to align with the projected sales drop, both at constant-exchange rates.
Despite the challenging market conditions, Roche remains confident in its long-term strategy and is committed to delivering sustainable growth. The company’s steadfast position on its 2023 guidance demonstrates its resilience and determination to navigate through these turbulent times.