Pharmaceutical giant Roche has reported that group sales are up by 8% at constant exchange rates (CER) for the nine months from January to September.
The group’s Pharmaceuticals division saw sales grow by 5% in the third quarter, bringing them into line with the previous year’s first nine months.
The Diagnostics division increased its sales by 18% in the third quarter and 39% in the first nine months. This was due to high demand for Covid-19 tests and represents a strong recovery in the base business as well as the newly launched diagnostics platforms.
Sales are now expected to grow in the mid-single-digit range (CER). This improves upon the previous sales forecast, which was in the low to mid-single-digit range.
Core earnings per share are targeted to grow broadly in line with sales (CER). Roche expects to further increase its Swiss francs dividend.
Commenting on the latest figures, Roche CEO Severin Schwan said: “The demand for coronavirus tests remained high in the third quarter due to the Delta variant. Together with the recently launched medicines and diagnostics platforms, they contributed to the strong sales growth”.
He added: “We also made significant progress in our product pipeline in the third quarter, including with Polivy, the first medicine in 20 years to significantly improve outcomes in a form of aggressive blood cancer. Based on the results achieved so far, we are raising our outlook for the full year.”