Roche nine-months drug sales impacted by pandemic

15 October 2020

Swiss pharma giant Roche (ROG: SIX) this morning announced that group sales for the first nine months of 2020 ($48.33 billion) increased 1% to 43.98 billion Swiss francs at constant exchange rates and declined 5% in Swiss francs as a result of continued appreciation of the Swiss franc against most currencies

In the third quarter alone, revenue rose 1% to 14.7 billion francs ($16.1 billion), the company said. Analysts expected sales of 15.4 billion francs, according to the average of eight estimates. Roche shares dropped as much as 2% in Zurich trading.

Impact of COVID-19 pandemic: Following strong sales growth in the first quarter (+7%) and COVID-19 related decline in the second quarter (-4%), sales stabilized in the third quarter (+1%) supported by continued strong sales of new medicines and COVID-19 tests.

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