Roche (RHHBY) Q1 Hit by Currency Headwinds, Lower COVID-19 Sales

Swiss pharma giant Roche Holding AG’s (RHHBY) first-quarter 2024 revenues declined 6 % to CHF 14.4 billion due to the appreciation of the Swiss franc against most currencies and lower COVID-19-related sales. Nevertheless, sales were up 2% at constant exchange rates (CER) as demand for newer drugs as well as diagnostics products, including immunodiagnostics, clinical chemistry tests and advanced staining solutions, more than offset the anticipated decline in COVID-19-related sales and the impact of biosimila ...