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Roche reports strong results in 2015 28 January 2016

Group sales increased by 5% at constant exchange rates, 1% in Swiss francs

Pharmaceuticals Division sales up 5%, driven by oncology medicines Herceptin, Avastin and Perjeta as well as Esbriet for idiopathic pulmonary fibrosis

Diagnostics Division sales grew by 6%, driven primarily by immunodiagnostic products

Major pipeline progress: ocrelizumab with positive phase III data for relapsing and for primary progressive forms of multiple sclerosis; and promising results for atezolizumab in bladder and lung cancer

Fully automated cobas 6800 and cobas 8800 systems launched in the US in Molecular Diagnostics

Core earnings per share up 7% at constant exchange rates excluding the sale of filgrastim rights in 2014, -3% in Swiss francs

Outlook for 2016: sales expected to grow low- to mid-single digit, at constant exchange rates. Core earnings per share targeted to grow ahead of sales at constant exchange rates. Roche expects to further increase its dividend in Swiss francs

Strong sales growth in both Divisions

In 2015, Group sales increased by 5% to CHF 48.1 billion, driven primarily by pharmaceutical sales in the US and by strong demand for immunodiagnostic products.

In the Pharmaceuticals Division, sales rose 5% to CHF 37.3 billion. The increase was driven by the oncology portfolio (+8%), led by the HER2 medicines and Avastin. Sales of the immunology franchise grew by 24%, driven by the strong uptake of Esbriet, a new medicine for idiopathic pulmonary fibrosis, as well as higher sales of Actemra/RoActemra and Xolair. Sales of Pegasys declined due to competition from a new generation of treatments, while Valcyte/Cymevene and Xeloda faced generic competition as expected.

All regions contributed to the sales growth, with particularly strong performance in the US (+6%) and in Europe (+4%), which was driven by strong demand for the HER2 medicines along with strong uptake of Esbriet. Growth in the International region3 (+5%) was driven by key markets including Brazil (+10%) and China (+4%). In Japan, sales grew by 6%, driven by Avastin, the HER2 franchise and the new lung cancer medicine Alecensa.

In Diagnostics, sales grew 6% to CHF 10.8 billion, with Asia-Pacific (+15%) and Europe, Middle East and Africa (EMEA, +4%) as the main contributors. Sales were up in Latin America (+11%) and in North America (+3%), whilst sales in Japan were stable. The major growth driver was Professional Diagnostics, which grew by 8%. Sales in Molecular Diagnostics and Tissue Diagnostics increased 10% and 12% respectively. Diabetes Care sales decreased 3% due to continuing challenging market conditions, especially in the US.