Roche, the world's biggest maker of cancer drugs, reported a 3 percent rise in sales in the first quarter on Wednesday.
The Basel-headquartered company said the strong Swiss franc knocked two percentage points off its sales in the quarter. However, the company's chief executive played down the impact of currency fluctuations on growth.
"What you see in the first quarter is that the overall net effect on currencies is rather limited—it's only 2 percent—so we grew sales by 5 percent and in Swiss francs it was 3 percent. So what that tells you is that the sharp decline in the euro is compensated by the strong development of the U.S. dollar, so overall the impact for us is rather limited." CEO Severin Schwan told CNBC on Wednesday.
"We are naturally hedged because over 80 percent of our costs are outside of Switzerland and as such we are less exposed to currency fluctuations," he added.
The firm said sales in the first three months rose to 11.833 billion Swiss francs ($12.40 billion) from 11.496 billion year-ago. This beat analyst views, which averaged 11.492 billion in a Reuters poll.