Roche exceeds own guidance and achieves sales growth of 1%
Shares of Swiss pharma giant Roche (ROG: SIX) were down nearly 4% at 370.55 francs today, after it released financial results for full-year 2023.
Full-year 2023 sales grew 1% to 58.7 billion Swiss francs ($67.99 billion), the firm said, which was slightly below an average analyst estimate of close to 60 billion francs according to LSEG data. Excluding COVID-19 products, group sales increased by 8%.
Pharmaceutical Division sales of 58.72 billion francs were up 1% at constant exchange rates (CER) and down 7% in francs. Diagnostics Division revenues plunged 135 at CER and 20% in francs.
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