Roche confirms 2020 outlook as Covid-19 diagnostics surge

Coronavirus tests and newer drugs balance out declining sales from medicines no longer on patent

Roche Diagnostics in East Sussex. Photograph:  Steve Parsons/PA Wire

Roche Diagnostics in East Sussex. Photograph: Steve Parsons/PA Wire

 

Roche on Thursday confirmed its full-year 2020 outlook for low- to mid-single-digit percentage sales growth as revenue from Covid-19 tests and newer drugs help balance out declining sales from older medicines that are no longer on patent.

Revenue through September slipped 5 per cent to 44 billion Swiss francs (€41 billion), Roche said in a statement, down from 46 billion francs in the year-earlier period as the rising value of the Swiss franc eroded reported revenue.

Sales rose 1 per cent in constant currencies. – Reuters