Roche raises profit view, but weak dollar weighs on sales

Core Viewpoint - Roche has raised its full-year profit guidance due to cost-cutting measures that offset the impact of a weaker dollar on overseas sales [1][2]. Financial Performance - Roche now expects a high-single to low-double-digit percentage increase in adjusted earnings, up from a previous forecast of a high-single-digit increase [1]. - The company confirmed its annual guidance for a mid-single-digit rise in sales [1]. - Group revenues rose 2% in non-adjusted terms to 45.9 billion Swiss francs ($57.9 billion) in the first nine months of the year, which was below analysts' expectations of 46.2-46.4 billion francs [4]. Strategic Initiatives - CEO Thomas Schinecker highlighted that Roche's growth momentum, efforts to mitigate short-term impacts of U.S. tariffs, and cost control measures contributed to the increased guidance [2]. - Roche is investing heavily in obesity drugs to compete with Novo Nordisk and Eli Lilly, indicating that the industry is only beginning to explore the obesity market [3]. Product Performance - Nine-month revenues for the eye drug Vabysmo, which addresses a common form of blindness in the elderly, reached 3.06 billion francs, but this was below expectations [4][5]. - Sales of key growth drivers, including Vabysmo and the haemophilia treatment Hemlibra, missed analysts' forecasts [4].