Roche 2022 Sales Grew, But Expects 2023 Decline on Covid-19 Products

By Cecilia Butini

Roche Holding AG reported sales growth in 2022, but said it expects a decrease in sales for 2023 due to a drop in the sale of Covid-19 products.

The Swiss pharma major posted sales of 63.28 billion Swiss francs ($69.65 billion) for the full year 2022, up from CHF62.80 billion in 2021 and in line with consensus expectations. Net profit declined to CHF13.53 billion from CHF14.94 billion the year prior, missing analysts' expectations of CHF15.09 billion.

Core operating profit grew to CHF22.17 billion in the year from CHF21.90 billion the year prior, and core earnings per share also grew to CHF20.30 from CHF19.81 in 2021, the company said.

For the year ahead, Roche expects a decrease in sales due to a previously announced CHF5 billion decline in Covid-19 product sales, it said. The expected sales drop is in the low-single digit at constant exchange rates. When excluding the Covid-19 sales decline, the company anticipates "solid underlying sales growth" in both its pharmaceutical and diagnostics division, it said.

Write to Cecilia Butini at [e-mail]

(END) Dow Jones Newswires

February 02, 2023 01:47 ET (06:47 GMT)

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