Roche confirms 2021 outlook as diagnostics sales mitigate COVID-19 drug slump

By:  Reuters
07:17 04/21/2021

(Corrects Swiss francs sales drop to 1%, not 3%, in second paragraph)

ZURICH (Reuters) - Swiss drugmaker Roche said first-quarter revenue rose 3% at constant exchange rates, as its sales of COVID-19 diagnostics helped offset a slump in the mainstay drug business.

Sales were 14.9 billion Swiss francs ($16.26 billion), which in Swiss francs was down 1% from 15.1 billion francs in the year-earlier period, Roche said in a statement. The Basel-based company, which does not report quarterly profit, said the strong Swiss franc dragged down revenue.

The Basel-based company still expects current-year sales growth in the low- to mid-single digit range at constant exchange rates, with similar core earnings per share growth.

(Reporting by John Miller; Editing by Michael Shields)

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