Roche reports dip in first-half sales, as covid products demand declined

Swiss pharmaceutical giant Roche (ROG: SIX) this morning revealed that sales for the first half of 2023 had dropped 2% to 29.78 billion Swiss francs ($33.01 billion), or -8% in franc terms, hit by weakness in its diagnostics division that saw booming demand during the height of the covid pandemic.

Pharmaceutical Division sales were up 8% at 22,681 million francs, while the Diagnostics Division’s revenues plunged 23% to 7,098 francs.

Group core operating profit fell 6% to 10,911 million francs, with diluted core earnings per share (EPS) declining 5% to 10.10 francs.