Roche Holdings AGRHHBYQ3 FY22 sales reached CHF14.74 billion, down 6% Y/Y due to lower sales from COVID-19 treatments and diagnostics.
“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 company said.
“Despite an increasing incidence rate for COVID-19, actually, we don’t see an increase in the demand for COVID-19-related products,” CEO Severin Schwan told journalists in a call, Reuters reported, adding this was valid for both tests as well as drugs Ronapreve and Actemra.
Recently, Roche announced the launch of its next-generation portfolio of COVID-19 rapid antigen tests for self-testing and professional use in countries accepting the CE Mark.
The newer medicines Ocrevus (multiple sclerosis), Hemlibra (hemophilia), Evrysdi (spinal muscular atrophy), and Phesgo (breast cancer) continued their strong growth.
Ocrevus sales increased 16% to CHF 1.52 billion, while Hemlibra jumped 23% to CHF 952 million.
Guidance: The company reaffirmed its guidance for full-year revenue to be flat or grow by a “low-single-digit” percentage, 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.
Price Action: RHHBY shares closed higher by 1.78% at $41.20 on Monday.
