Roche sees pharma market recovering from COVID – California News Times

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Swiss pharmaceutical company Roche said Thursday that drug sales began to recover from the slump caused by COVID. This is due to the confirmation of the forecast that overall annual sales will increase slightly.

According to the company, sales in the first half increased by 8% at a constant exchange rate to CHF 30.7 billion ($ 33.5 billion, € 28.4 billion).

This exceeded the analyst’s consensus of CHF 30 billion compiled by the Swiss financial news agency AWP.

However, the strong franc penalized the company because the profit was only 5% when calculated at the actual exchange rate.

Both operations and operations had similar effects Net incomeBoth showed a slight increase when excluding the currency effect, but decreased using the actual rate.

Net profit was down 3% to CHF 8.2 billion.

“We achieved good results in the first half, mainly due to the demand for new drugs and COVID-19 testing,” Severin Schwan, CEO, said in a statement.

He said sales of the COVID-19 test peaked. Second quarter, As expected.

Schwann also said sales have begun to recover in the company’s pharmaceutical sector, which accounts for the majority of sales.

First half sales were down 3% to CHF 22 billion. But it masks a 9% decline in the first three months of the year and then a 4% rise.

The drug company was hit by the COVID-19 pandemic because hospitals and patients stocked up on certain drugs but delayed many treatments.

On Wednesday, Roche’s Swiss rival Novartis reported a recovery in drug sales, even though some treatments remained pandemic-affected.

Roche confirmed the outlook for low-to-mid-single-digit annual sales growth at constant exchange rates, with core revenues rising as well.

Swiss pharmaceutical company Roche announces 7% reduction in profits

© 2021 AFP

Quote: Roche is a pharmaceutical market from COVID (July 22, 2021) acquired on July 22, 2021 from Seems to be recovering

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