Roche reports good 2021 results, but warns of slower growth

Shares of Swiss pharma giant Roche (ROG: SIX) were down 2.5% at 374.00 francs late morning, after the Swiss pharma giant posted full-year 2021 financials but warned of slower growth this year.

In 2021, group sales rose 9% (+8% in francs) to 62.8 billion ($67.5 billion). Core operating profit increased 4% (+2%) to 21.9 billion, in line with Refinitiv's smart estimate analyst poll, and reflecting the strong underlying business performance. Core earnings per share grew 6% (+3%) to 19.18 francs. The Swiss franc’s appreciation against almost all currencies affected the results expressed in Swiss francs compared to constant exchange rates.

In December, Roche completed the 19.0 billion-franc repurchase of its shares held by rival Novartis (NOV: VX). This restores Roche’s full strategic flexibility while retaining its operational scope of action.