© Reuters. FILE PHOTO: The logo of Swiss drugmaker Roche is seen at its headquarters in Basel, Switzerland January 30, 2020. REUTERS/Arnd Wiegmann/File Photo
By Ludwig Burger
(Reuters) -Roche’s quarterly sales declined 6% as a slump in COVID-19 treatments and diagnostic testing more than offset gains from haemophilia treatment Hemlibra and multiple sclerosis drug Ocrevus.
Third-quarter revenues slipped to 14.74 billion Swiss francs ($14.84 billion), below market expectations of about 15.5 billion francs
“The third quarter of 2022 was particularly challenging due to base effects, as the demand for COVID-19 medicines and tests was exceptionally high in the same quarter of 2021,” the Swiss company said.
Its bestseller Ocrevus gained 16% in sales to 1.52 billion francs during the quarter, while Hemlibra jumped 23% to 952 million francs, both excluding the effect of currency swings.
The company reaffirmed its guidance for full-year revenues to be flat or grow by a “low-single digit” percentage, when excluding foreign exchange effects.
It also reiterated that the percentage gain in core earnings per share would be in the “low- to mid-single digit” range.
($1 = 0.9932 Swiss francs)
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