October 4, 2022

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Roche fourth-quarter gross sales helped by COVID-19 take a look at organization

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ZURICH (Reuters) – Swiss drugmaker Roche got a fourth-quarter elevate from its COVID-19 examination business enterprise, where by increased income offset a decrease at its medications device whose profits was dragged down by the pandemic and patent-expired cancer drugs that misplaced floor to rivals.



graphical user interface, website: FILE PHOTO: Logo of Swiss pharmaceutical company Roche is pictured in Rotkreuz


© Reuters/Michael Buholzer
FILE Photo: Logo of Swiss pharmaceutical company Roche is pictured in Rotkreuz

Fourth-quarter revenue rose 1{9e6a73ef7eb6fa22b1de79554ca535a2a0aaa70d898e937e26eb250763832f63} at continual exchange prices to 14.3 billion Swiss francs ($15.9 billion). Prescribed drugs profits fell 7{9e6a73ef7eb6fa22b1de79554ca535a2a0aaa70d898e937e26eb250763832f63} to 10.2 billion francs, though diagnostics profits, such as from the COVID exams, rose 28{9e6a73ef7eb6fa22b1de79554ca535a2a0aaa70d898e937e26eb250763832f63} to 4.1 billion francs.

For the complete 12 months, net revenue rose to 15.1 billion francs from 14.1 billion in 2019. Sales were 58.3 billion francs, down 5{9e6a73ef7eb6fa22b1de79554ca535a2a0aaa70d898e937e26eb250763832f63} from 61.5 billion a yr back as the solid Swiss franc weighed on revenue but 1{9e6a73ef7eb6fa22b1de79554ca535a2a0aaa70d898e937e26eb250763832f63} higher at continuous currency costs.

Roche’s three significant most cancers prescription drugs — Mabthera, Herceptin and Avastin — are all beneath stress from rivals’ cheaper biosimilar copies just after heading off patent and misplaced 5.1 billion francs in earnings throughout the complete calendar year. In the meantime, profits of diagnostics rose, driven by a close to-doubling of income for molecular assessments like the PCR assays utilised all over the world to diagnose active COVID-19 bacterial infections.

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For this 12 months, Roche expects sales to develop in the minimal-to mid-solitary digit variety at continuous trade prices, as more recent prescription drugs support offset the strike from biosimilar copies. Main earnings per share are specific to expand broadly in line with profits.

The organization ideas to boost its dividend to 9.10 francs per share.

($1 = .9127 Swiss francs)

(Reporting by John Miller Editing by Michael Shields)