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    Editorials 24
    You are at:Home Coronavirus Demand for COVID-19 tests eases as Roche sees slower sales growth in 2022
    Coronavirus

    Demand for COVID-19 tests eases as Roche sees slower sales growth in 2022

    James CarterBy James CarterFebruary 3, 2022No Comments2 Mins Read
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    Reuters, 3 February – Roche, a Swiss pharmaceutical company, said revenues would drop this year as it anticipates lower demand for its COVID-19 drugs and diagnostics.

    Because it anticipates demand for its COVID-19 drugs and diagnostics to decline, it forecast currency-adjusted 2022 sales to remain flat or rise in the low single digits, down from last year’s 9 percent growth.

    COVID-19 medications and diagnostics revenues are expected to drop by roughly 2 billion Swiss francs ($2.17 billion) to about 5 billion francs, according to Roche.

    In 2021, it expected a slight increase in profits as strong demand for COVID diagnostic tools and new prescriptions for treatments such Hemlibra for hemophilia and cancer immunotherapy Tecentriq offset a drop in sales of older cancer drugs.

    Also Read: Illinois coronavirus: Metrics improving, but deaths still rising

    According to Refinitiv’s smart estimate analyst poll, core operating profit, or profits before interest and tax-adjusted for one-time events, increased 2% to 21.9 billion Swiss francs ($23.82 billion).

    It suggested a dividend increase of 9.30 Swiss francs per share.

    At constant currency rates, it expects core earnings per share to climb in the “low to mid-single digits” this year, including the accretive impact of the recent buyback of shares formerly held by competitor Novartis (NOVN.S).

    Its Ronapreve COVID-19 antibody treatment, developed in collaboration with Regeneron (REGN.O), was discovered to have lost its neutralizing effectiveness against the Omicron strain late last year.

    (1 Swiss franc = 0.9204 Swiss francs)

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    James Carter

    Coffee is my favourite thing to drink. I also love meeting new people and discussing the world. I'm your go-to guy if you want to learn more about anything, especially if you're wanting to get the latest info about your favourite celebs.

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