Roche said on Wednesday that its sales stood at 15.3 billion Swiss francs in the first quarter of 2023, falling 7% from the same period a year earlier but still coming in above estimates. At constant currency rates, the decline was 3%.
The company also confirmed its outlook for 2023, noting it expects a drop in group sales in the "low single-digit range" at constant currency rates due to a sharp decline in COVID-19 product sales.
"We saw strong growth in the first quarter in both divisions' base business, which largely compensated for the expected drop in sales of COVID-19 tests. We made progress in our pipeline in the first quarter, especially in blood cancer," CEO Thomas Schinecker stated.
