ZURICH (SWITZERLAND) – Swiss drugmaker Roche said on Thursday that its sales and profit in the first-half dropped as patients slashed visits to hospitals in the wake of the pandemic spread.
The firm’s net income recorded a fall of 5% to 8.5 billion Swiss francs (7.19 billion pounds) from 8.9 billion francs in 2019. Sales showed a dip of 4% to 29.3 billion francs from 30.5 billion francs. Profit rose 3% and sales climbed 1%.
At constant exchange rates, sales are still growing in the low- to mid-single-digit percentage range. Core earnings per share are expected to grow broadly in line with sales, and the company looks forward to increase its dividend.
As hospitalisations and out-patient visits showed a slump during the period, it affected the sales of multiple sclerosis drug Ocrevus, haemophilia treatment medicine Hemlibra, eye drug Lucentis and Rituxan that treats blood cancer.
“The corona pandemic continues to pose an enormous challenge worldwide,” Roche CEO Severin Schwan said.
(Photos syndicated via Reuters)
This story has been edited by BH staff and is published from a syndicated field
