Earnings

Roche confirms 2020 outlook as Covid-19 diagnostics surge

Key Points
  • Roche on Thursday confirmed its full-year 2020 outlook for low-to mid-single-digit percentage sales growth.
  • This as revenue from Covid-19 tests and newer drugs help balance out declining sales from older medicines that are no longer on patent.
A photo showing the logo of Swiss pharmaceutical giant Roche in Basel.
SEBASTIEN BOZON | AFP | Getty Images

Roche on Thursday confirmed its full-year 2020 outlook for low-to mid-single-digit percentage sales growth as revenue from Covid-19 tests and newer drugs help balance out declining sales from older medicines that are no longer on patent.

Revenue through September slipped 5% to 44 billion Swiss francs ($48.21 billion), Roche said in a statement, down from 46 billion francs in the year-earlier period as the rising value of the Swiss franc eroded reported revenue.

Sales rose 1% in constant currencies.