Roche said on Thursday that 2024 would see a return to sales growth as it is overcoming a slump in demand for its COVID-19 products and the sales decline of a trio of established cancer drugs is abating.
The Swiss drugs and diagnostic maker said group sales, which include diagnostics, would grow in the mid-single digit range, when adjusted for currency swings.
Full-year 2023 sales grew 1% and came in at 58.7 billion Swiss francs ($67.99 billion), the firm said in a statement, slightly below an average analyst estimate of close to 60 billion francs according to LSEG data. It was down from 63.3 billion francs in 2022.
Full-year adjusted operating profit slipped 1% to 19.2 billion francs, less than an analyst consensus of 19.6 billion francs compiled by LSEG.
"We achieved good sales growth that more than offset the sharp drop in COVID-19 sales", CEO Thomas Schinecker said in a statement.
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