Roche first-half 2024 sales grow 5%

Shares of Swiss pharma giant Roche (ROG: SIX) edged up 2.4% in morning trading after the Swiss pharma giant posted a strong set of first-half 2024 financials.

Group sales were up by 5% at constant exchange rates (stable in Swiss francs) at 29.8 billion francs ($33.5 billion). While the appreciation of the Swiss franc slowed against most currencies, it had an adverse impact on the results presented in Swiss francs compared to constant exchange rates, the company noted.

First-half adjusted operating profit increased 4% to 11.3 billion francs ($12.8 billion), beating analysts' consensus estimate of 10.5 billion francs, based on LSEG data.Core operating profit grew by 11% (4% in francs), driven by higher sales and cost management, and beating analysts’ estimates.