The firm's virology base business increased 5 percent during the first half of the year. Molecular lab diagnostics revenues fell 44 percent (40 percent at constant exchange rates) to CHF 1.12 billion from CHF 1.98 billion in H1 of 2022 and contributed 16 percent to half-year diagnostics sales. The immunodiagnosti cs business grew 11 percent while the clinical chemistry business was up 10 percent. Excluding the impact of COVID-19, the core lab business was up 12 percent at constant exchange rates, Sause said. The firm expects mid- to high-single-digit growth in the base business for the rest of the year as COVID-19 testing sales continue to decline, he said.Ĭore lab revenues were up 2 percent (and 10 percent at constant exchange rates) to CHF 3.94 billion from CH F 3.88 billion in the first half of 2022 and contributed 55 percent to diagnostics sales. Roche Diagnostics CEO Matt Sause echoed Schinecker's comments, noting that the decline in the diagnostics business was entirely driven by the decrease in COVID-19 testing sales. Between 80 percent and 90 percent of the COVID-19-related sales will be "washed out" by Q4 2023, he said. The "entire impact" of the COVID-19 decline was within the diagnostics business, and the company expects the COVID-19 impact to get smaller over the course of 2023 and the overall impact to disappear completely by the end of Q1 2024, he added. Schinecker noted on the call that the COVID-19 sales decline was in line with the guidance Roche provided at the beginning of 2023. Schinecker said in a statement that "sales in the base business of both our divisions grew strongly, largely offsetting the impact of declining demand for COVID-19 products."ĬOVID-19 test sales in the period were CHF 400 million, down from CHF 3.1 billion in the first half of 2022. The diagnostics base business saw growth of CHF 421 million, Roche CEO Thomas Schinecker said on a conference call to discuss the firms results. Revenues for the Diagnostics division cam e in at CHF 7.10 billion, down 29 percent (and 23 percent at constant exchange rates) compared to CHF 9.95 billion in revenues during the same period last year. The firm's base business excluding COVID-19 product sales grew 8 percent at constant exchange rates. At constant exchange rates the decline was 2 percent. The company also emphasized the importance of recent and upcoming diagnostics product launches that will broaden its portfolio and continue to boost its base business.įor the first half of 2023, the Roche Group reported CHF 29.78 billion ($34.75 billion) in total sales, down 8 percent from CHF 32.30 billion during the first half of 2022. However, excluding those products, its base Dx business saw 6 percent growth at constant exchange rates, driven by growth in immunodiagnostics and clinical chemistry. NEW YORK – Roche on Thu rsday reported its Diagnostics division revenues fell 29 percent year over year in the first half of 2023 as a result of expected lower demand for COVID-19 tests. Note: This story has been updated with comments from the company's conference call to discuss its financial results. Advances in Clinical Genomics Profiling.
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