Roche Announces 2023 Financial Results

Roche Group sales increased by 1 percent to CHF 58.7 billion, exceeding 2023 expectations. Roche Pharmaceuticals Division sales reached CHF 44.6 billion with a 6 percent increase. The company's therapeutic solutions in ophthalmology, multiple sclerosis, hemophilia A, hematology, breast cancer areas achieved sales of CHF 14.8 billion, an increase of CHF 4.3 billion compared to 2022. Pharmaceutical R&D spending increased by 6 percent to CHF 11.5 billion. Oncology remained the primary R&D area for Roche, with cancer immunotherapy serving as a key driver. Significant investments were also made in neuroscience, ophthalmology and immunology areas. Roche Diagnostics Division core business sales increased by 7 percent; products that contributed significantly to this growth were cardiac tests and clinical chemistry diagnostic solutions. In 2023, due to a significant decline in demand for Covid-19-related products, sales were CHF 14.1 billion, representing a 13 percent decrease.

'We recorded good progress in both our pharmaceutical and diagnostic product portfolios'

Roche Group Chief Executive Officer Thomas Schinecker stated that they achieved good sales growth where the sharp decline in Covid-19 sales and sales losses from biosimilars were more than offset.

Schinecker continued his remarks as follows:

'We recorded good progress in both our pharmaceutical and diagnostic product portfolios. A Phase III study is ongoing for an oral therapy showing more than 50 percent reduction in the risk of death or disease progression for patients fighting difficult-to-treat breast cancer. We look forward to bringing this medicine to patients as soon as possible. On the other hand, we are planning new partnerships and acquisitions targeting disease areas with high unmet needs such as inflammatory bowel disease and cardiometabolic diseases.' Source