7/21/2022, 7:06 AM (Source: TeleTrader)
more TeleTrader news

Roche's H1 group sales up 5% to 32.3B Swiss francs

Roche announced on Thursday that its group sales for the first half of the year went up by 5% year-on-year to reach 32.29B Swiss francs, the company reported in its latest press release.

The company's pharmaceuticals division sales rose by 3% to 22.3 billion Swiss francs compared to the same period last year due to the ''continued strong demand for new medicines to treat severe diseases,'' while the sales in the diagnostics divisions increased by 11% and reached 9.9 billion Swiss francs. Core earnings per share were up 11% yearly and stood at 11.76 Swiss francs, the Swiss healthcare company noted. The company's net income advanced by 12% to 9.2 billion Swiss francs year-on-year.

''We achieved good results in the first half of the year, thanks to the continued strong demand for our diagnostics base business and our new medicines to treat haemophilia, cancer and neurological disorders,'' Roche's CEO Severin Schwan said. ''In the second half of the year, core EPS is expected to be impacted by the decline of COVID-19 sales and a base effect from the resolution of several tax disputes that were recognised in the second half of 2021 and will not recur in 2022,'' the company explained.

Baha Breaking News (BBN) / MM