Roche Trims Four Early Assets as Q1 Sales Slip 6% on Currency, COVID Headwinds

Published: Apr 24, 2024 By Tristan Manalac

Roche China_iStock, Robert Way

Pictured: Roche’s building in Shanghai, China/iStock, Robert Way

Roche released its first-quarter 2024 earnings results on Wednesday posting a 6% decline in sales compared to the same prior year period, as the company continued to be weighed down by weak demand for COVID-19 products and currency headwinds while narrowly beating analysts’ expectations.

In the first quarter of 2024, the pharma group’s sales brought in around $15.79 billion, down from its Q1 2023 earnings of approximately $16.78 billion. The performance of Roche’s pharmaceuticals division likewise slowed by 6% in the quarter, with its sales falling to $11.96 billion from $12.71 billion in the same period last year.

CEO Thomas Schinecker in a statement attributed the decline to the ongoing contraction of the COVID-19 market and to the “appreciation…
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