Roche Holding Reports 2023 Results

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Roche Holding, the Swiss pharmaceutical giant, is set to release its financial results for the year 2023 on Thursday. Here are the key details you need to know:

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Sales Forecast

According to a FactSet poll of 19 analysts, Roche Holding is expected to report sales of 59.18 billion Swiss francs ($68.67 billion) for the previous year. This figure indicates a decline of 6.5% from the CHF63.28 billion in sales the company achieved in 2022.

Net Profit Forecast

Analysts estimate that Roche’s net profit for 2023 will be CHF13.41 billion, based on a consensus provided by FactSet and the assessments of 17 analysts. In comparison, the company recorded a net profit of CHF13.53 billion in 2022.

What to Watch

Roche’s Drug Pipeline: What to Expect in 2022

Investors are eager for more clarity on Roche’s drug pipeline this year, according to Barclays Capital analysts. In the first half, data from Carmot Therapeutics, a California-based biotech company that Roche agreed to acquire in December, is set to be released. This promising drug shows potential in the treatment of obesity. Additionally, during the second half, Roche plans to provide an update on its immunotherapy treatment, tiragolumab, for lung cancer.

Jefferies analysts also highlight Roche’s key growth drivers, which include Tecentriq, a cancer drug, Ocrevus, a multiple-sclerosis treatment, and Hemlibra, a drug for hemophilia. These medications are entering a more mature growth phase, indicating continued success for Roche.

Roche’s strategic involvement in merger-and-acquisition activities within the pharmaceutical industry has been noteworthy. In December, they finalized the acquisition of Telavant, a developer of a bowel-disease treatment, from Roivant Sciences and Pfizer. Valued at over $7 billion, this deal further solidifies Roche’s expansion efforts. Recognizing recent setbacks, Roche is actively diversifying its risk profile by venturing into the fields of obesity, cardiovascular disease, and immunology through acquisitions. Morgan Stanley analysts forecast that this approach will continue to shape Roche’s pipeline moving forward.

Roche’s Potential Sales Growth in 2024

According to a note from JPMorgan analysts, pharmaceutical company Roche has the potential to achieve a sales growth of 5% at constant exchange rates in 2024. However, the analysts believe that Roche might be conservative in its initial guidance for the year.

Conservative Guidance for 2024

JPMorgan expects Roche to provide a guidance for low-to-mid single-digit sales growth at constant currency and low single-digit growth in core earnings per share.

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