Roche reveals drop in Q1 sales amid pandemic recovery
Date
4/24/2024 8:50:04 AM
(MENAFN) Swiss pharmaceutical giant Roche disclosed a decline in sales for the first quarter, with revenues dropping to 14.4 billion Swiss francs ($15.8 billion), down from 15.32 billion Swiss francs recorded last year, marking a 6 percent decrease. However, when factoring in stable exchange rates, the quarterly sales exhibited a modest increase of 2 percent. This growth was attributed to robust demand for newer medications and diagnostic products, including immunodiagnostics and clinical chemistry tests, which offset potential declines in drug sales stemming from the COVID-19 pandemic, as well as the impact of biosimilars and genetic erosion.
Following the most recent quarter, it appears that the sales impact associated with the COVID-19 pandemic has largely subsided, with no significant impact anticipated on the company's sales moving forward. Excluding products directly related to the pandemic, quarterly sales demonstrated a notable 7 percent increase. Looking ahead, Roche anticipates further sales growth throughout the fiscal year 2024.
Roche's performance reflects a resilient response to the challenges posed by the pandemic, as well as a strategic focus on innovation and diversification within its product portfolio. The company's ability to navigate shifting market dynamics underscores its commitment to delivering value to stakeholders while addressing evolving healthcare needs. With an optimistic outlook for future sales growth, Roche remains positioned to sustain its leadership in the global pharmaceutical industry.
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