[Ad hoc announcement pursuant to Art. 53 LR] Roche continues good momentum into 2025 with 6% (CER) sales growth in the first quarter
Rhea-AI Summary
Roche (RHHBY) reported strong Q1 2025 performance with Group sales growing 6% at constant exchange rates (CER) to CHF 15.4 billion. The Pharmaceuticals Division saw an 8% increase to CHF 11.9 billion, driven by newer medicines like Phesgo, Vabysmo, Xolair, and Hemlibra. The Diagnostics Division remained stable at CHF 3.5 billion.
Key regional performance showed US sales up 6%, Europe up 5%, Japan up 3%, and International markets up 18%. The company announced plans to invest USD 50 billion in US pharmaceuticals and diagnostics over five years, creating over 12,000 new jobs.
Notable developments include US approvals for Evrysdi tablet and Susvimo, EU approval for Columvi, and a collaboration with Zealand Pharma for weight loss treatments. Roche confirmed its 2025 outlook, expecting mid-single-digit sales growth and high-single-digit core earnings per share growth.
Positive
- Strong Q1 2025 Group sales growth of 6% to CHF 15.4 billion
- Pharmaceuticals Division sales up 8% to CHF 11.9 billion
- Top 5 growth drivers achieved CHF 3.6 billion in sales, up CHF 0.7 billion YoY
- Significant 18% sales growth in International markets
- USD 50 billion investment planned in US operations
- Multiple regulatory approvals and positive trial results
Negative
- CHF 0.2 billion sales decline from loss of exclusivity on multiple drugs
- Diagnostics Division sales remained flat due to Chinese pricing reforms
- 15% sales decrease in Asia-Pacific region
- Ocrevus high-dose trial failed to meet primary endpoint
News Market Reaction – RHHBY
On the day this news was published, RHHBY gained 1.56%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
- Group sales grew by
6% 1 at constant exchange rates (CER;7% in CHF), driven by high demand for newer medicines and diagnostic solutions. - Pharmaceuticals Division sales rose by
8% (9% in CHF) on continued strong demand for a broad range of our medicines; top growth drivers were Phesgo (breast cancer), Vabysmo (severe eye diseases), Xolair (allergies) and Hemlibra (haemophilia A). - Diagnostics Division sales remained stable with high demand across products and regions offsetting the impact of the recent healthcare pricing reforms in China.
- Highlights:
- US approval for Evrysdi tablet for spinal muscular atrophy and Susvimo for the leading cause of diabetes-related blindness
- EU approval for Columvi combination with chemotherapy for people with relapsed or refractory diffuse large B-cell lymphoma
- US acceptance of supplemental Biologics License Application for Gazyva/Gazyvaro for lupus nephritis
- Trontinemab for Alzheimer’s disease and NXT007 for haemophilia A to move into phase III
- Exclusive collaboration and licensing agreement with Zealand Pharma to co-develop and co-commercialise amylin analogue as a stand-alone therapy as well as a fixed-dose combination with Roche’s lead incretin asset CT-388 for weight loss
- Unveiling of novel sequencing by expansion (SBX) technology, a new class of next-generation sequencing
- Announcement of plans to invest USD 50 billion in pharmaceuticals and diagnostics in the US in R&D and manufacturing over the next five years
- Announcement of plans to establish Roche Genentech Innovation Center Boston
- Outlook for 2025 confirmed
Roche CEO Thomas Schinecker: “We had a good start to the year with Group sales increasing by
Based on recent data, two potential new therapies – our investigational Brainshuttle bispecific antibody to treat Alzheimer’s and our investigational next-generation haemophilia A medicine – will move into phase III. Together with Zealand Pharma, we are developing amylin as a potential new stand-alone therapy for weight loss and as a fixed-dose combination with our incretin CT-388. In Diagnostics, we unveiled our breakthrough ‘sequencing by expansion’ technology, offering unparalleled speed, throughput and flexibility combined with high accuracy.
We are expanding our already strong US footprint – with currently over 25,000 employees, 15 R&D and 13 manufacturing sites – by investing USD 50 billion, an important step to continue to meet patient needs in the US with highly innovative medicines and diagnostics.
We are confident we will continue our positive momentum and confirm our full-year outlook.”
| Sales | CHF millions | As % of sales | % change | |||
| January–March | 2025 | 2024 | 2025 | 2024 | At CER | In CHF |
| Group | 15,440 | 14,399 | 100.0 | 100.0 | 6 | 7 |
| Pharmaceuticals Division | 11,949 | 10,921 | 77.4 | 75.8 | 8 | 9 |
| United States | 6,224 | 5,692 | 40.3 | 39.5 | 6 | 9 |
| Europe | 2,320 | 2,200 | 15.0 | 15.3 | 5 | 5 |
| Japan | 671 | 649 | 4.3 | 4.5 | 3 | 3 |
| International* | 2,734 | 2,380 | 17.8 | 16.5 | 18 | 15 |
| Diagnostics Division | 3,491 | 3,478 | 22.6 | 24.2 | 0 | 0 |
| *Asia-Pacific, CEETRIS (Central Eastern Europe, Türkiye, Russia and Indian subcontinent), Latin America, Middle East, Africa, Canada, others | ||||||
Outlook for 2025 confirmed
Roche (SIX: RO, ROG; OTCQX: RHHBY) expects an increase in Group sales in the mid single digit range (CER). Core earnings per share are targeted to develop in the high single digit range (CER). Roche expects to further increase its dividend in Swiss francs.
Group sales
In the first three months of 2025, Roche achieved sales growth of
Strong demand for both pharmaceutical products and diagnostic solutions more than made up for the impact from the loss of exclusivity on Avastin (various types of cancer), Herceptin (breast and gastric cancer), MabThera/Rituxan (blood cancer, rheumatoid arthritis), Esbriet (lung disease), Lucentis (severe eye diseases) and Actemra/RoActemra (rheumatoid arthritis, COVID-19), totalling CHF 0.2 billion, and the impact of the recent healthcare pricing reforms in China.
Sales in the Pharmaceuticals Division increased by
The top five growth drivers – Phesgo, Vabysmo, Xolair, Hemlibra and Xofluza (influenza) – achieved total sales of CHF 3.6 billion. This represents a plus of CHF 0.7 billion at CER compared to the first quarter of 2024.
Phesgo achieved sales of CHF 0.6 billion due to growing demand across regions, notably China and the US, while Vabysmo continued to witness strong uptake, generating sales of CHF 1.0 billion on increased demand in all regions.
Sales of Avastin, Herceptin, MabThera/Rituxan, Esbriet, Lucentis and Actemra/RoActemra decreased by a combined CHF 0.2 billion (CER) due to the impact of loss of exclusivity.
In the United States, sales rose by
Sales in Europe grew by
In Japan, sales increased by
Sales in the International region grew by
The Diagnostics Division sales remained stable at CHF 3.5 billion as growth in demand, notably for immunodiagnostic products and pathology solutions, offset the impact of the recent healthcare pricing reforms in China.
Sales in the Europe, Middle East and Africa (EMEA) region increased by
In North America, sales rose by
Pharmaceuticals: key developments
| Compound | Milestone |
| Regulatory | |
| Columvi Blood cancer | European Commission approves Columvi as the first bispecific antibody for diffuse large B-cell lymphoma (DLBCL) after initial therapy
More information: Media Release, 14 April 2025 |
| Gazyva/ Gazyvaro Lupus nephritis | FDA accepts supplemental Biologics License Application for Gazyva/Gazyvaro for the treatment of lupus nephritis
More information: Media Release, 5 March 2025 |
| Columvi Blood cancer | CHMP recommends EU approval of Columvi combination for people with relapsed or refractory diffuse large B-cell lymphoma (DLBCL)
More information: Media Release, 28 February 2025 |
| Evrysdi Spinal muscular atrophy | FDA approves Evrysdi tablet as first and only tablet for spinal muscular atrophy (SMA)
More information: Media Release, 12 February 2025 |
| Susvimo Severe eye diseases | FDA approves Susvimo as the first and only continuous-delivery treatment for the leading cause of diabetes-related blindness
More information: Media Release, 4 February 2025 |
| Phase III, pivotal and other key read-outs | |
| Trontinemab Alzheimer’s disease | Roche presents novel therapeutic and diagnostic advancements in Alzheimer’s at AD/PD 2025
More information: Media Release, 3 April 2025 |
| Ocrevus Multiple sclerosis | Roche provides update on phase III Ocrevus high dose study in people with relapsing multiple sclerosis
More information: Media Release, 2 April 2025 |
| Xolair Allergies | Phase III study shows Xolair may be more effective with fewer side effects than oral immunotherapy for the treatment of food allergies
More information: Media Release, 2 March 2025 |
| Other | |
| US investment announcement | Roche announces plans to invest USD 50 billion in pharmaceuticals and diagnostics in the United States over the next five years
More information: Media Release, 22 April 2025 |
| Zealand Pharma agreement | Roche enters into an exclusive collaboration and licensing agreement with Zealand Pharma to co-develop and co-commercialise petrelintide as a potential foundational therapy for people with overweight and obesity
More information: Media Release, 12 March 2025 |
| Roche Genentech Innovation Center | Roche announces launch of Roche Genentech Innovation Center Boston based at Harvard’s Enterprise Research Campus in Allston
More information: Media Release, 7 March 2025 |
| Gazyva/ Gazyvaro Lupus nephritis | New England Journal of Medicine publishes new data for Gazyva/Gazyvaro which shows superiority over standard therapy in people with active lupus nephritis
More information: Media Release, 7 February 2025 |
| Enlarged Corporate Executive Committee change | Change to the Roche Enlarged Corporate Executive Committee
More information: Media Release, 29 January 2025 |
Pharmaceuticals sales
| Sales | CHF millions | As % of sales | % change | |||
| January–March | 2025 | 2024 | 2025 | 2024 | At CER | In CHF |
| Pharmaceuticals Division | 11,949 | 10,921 | 100.0 | 100.0 | 8 | 9 |
| United States | 6,224 | 5,692 | 52.1 | 52.1 | 6 | 9 |
| Europe | 2,320 | 2,200 | 19.4 | 20.1 | 5 | 5 |
| Japan | 671 | 649 | 5.6 | 5.9 | 3 | 3 |
| International | 2,734 | 2,380 | 22.9 | 21.9 | 18 | 15 |
International: Asia-Pacific, CEETRIS (Central Eastern Europe, Türkiye, Russia and Indian subcontinent), Latin America, Middle East, Africa, Canada, others
| Top 20 best-selling pharmaceuticals | Total | United States | Europe | Japan | International | |||||
| CHF m | % | CHF m | % | CHF m | % | CHF m | % | CHF m | % | |
| Ocrevus Multiple sclerosis | 1,778 | 6 | 1,247 | 3 | 344 | 11 | - | - | 187 | 16 |
| Hemlibra Haemophilia A | 1,165 | 11 | 610 | 0 | 247 | 7 | 82 | 3 | 226 | 72 |
| Vabysmo Eye diseases (nAMD, DME, RVO) | 1,018 | 18 | 718 | 7 | 197 | 42 | 32 | 35 | 71 | 101 |
| Tecentriq Cancer immunotherapy | 870 | 0 | 411 | -8 | 220 | 5 | 81 | -5 | 158 | 21 |
| Perjeta2 Breast cancer | 840 | -10 | 342 | -3 | 144 | -16 | 18 | -51 | 336 | -9 |
| Xolair2 Asthma | 645 | 26 | 645 | 26 | - | - | - | - | - | - |
| Actemra/RoActemra2 RA, COVID-19 | 619 | -1 | 294 | 3 | 152 | -19 | 71 | 5 | 102 | 26 |
| Phesgo Breast cancer | 593 | 52 | 179 | 38 | 199 | 18 | 40 | 115 | 175 | 142 |
| Kadcyla2 Breast cancer | 506 | 5 | 201 | 5 | 135 | -7 | 21 | -3 | 149 | 21 |
| Evrysdi Spinal muscular atrophy | 420 | 18 | 160 | 15 | 145 | 6 | 20 | 0 | 95 | 56 |
| Alecensa Lung cancer | 397 | 11 | 130 | 21 | 68 | -6 | 49 | 12 | 150 | 12 |
| Polivy Blood cancer | 358 | 42 | 156 | 30 | 94 | 74 | 44 | 2 | 64 | 80 |
| MabThera/Rituxan2 Blood cancer, RA | 298 | -16 | 181 | -14 | 35 | -10 | 3 | -17 | 79 | -23 |
| Activase/TNKase2 Cardiac diseases | 297 | -2 | 285 | -2 | - | - | - | - | 12 | -9 |
| Herceptin2 Breast and gastric cancer | 292 | -20 | 60 | -12 | 77 | 0 | 2 | -56 | 153 | -29 |
| Avastin2 Various cancer types | 274 | -15 | 80 | -21 | 14 | -33 | 36 | -30 | 144 | -3 |
| Gazyva/Gazyvaro2 Blood cancer | 249 | 15 | 131 | 27 | 60 | -3 | 8 | 46 | 50 | 11 |
| Xofluza Influenza | 159 | 234 | 14 | 239 | - | * | - | - | 145 | 234 |
| Pulmozyme2 Cystic fibrosis | 123 | 10 | 84 | 22 | 18 | -9 | - | -26 | 21 | -10 |
| Tamiflu2 Influenza | 100 | 56 | 9 | * | 26 | 114 | 13 | 81 | 52 | 17 |
* Over
DME: diabetic macular edema / nAMD: neovascular or ‘wet’ age-related macular degeneration / RVO: retinal vein occlusion / RA: rheumatoid arthritis
Diagnostics: key developments
| Product | Milestone |
| SBX technology | Roche unveils a new class of next-generation sequencing with its novel sequencing by expansion technology
More information: Media Release, 20 February 2025 |
| PATHWAY HER2 (4B5) test | Roche receives FDA approval for the first companion diagnostic to identify patients with HER2-ultralow metastatic breast cancer eligible for ENHERTU
More information: Media Release, 31 January 2025 |
Diagnostics sales
| Sales | CHF millions | As % of sales | % change | |||
| January–March | 2025 | 2024 | 2025 | 2024 | At CER | In CHF |
| Diagnostics Division | 3,491 | 3,478 | 100.0 | 100.0 | 0 | 0 |
| Customer areas3 | ||||||
| Core Lab | 1,904 | 1,926 | 54.5 | 55.4 | -1 | -1 |
| Molecular Lab | 634 | 611 | 18.2 | 17.6 | 2 | 4 |
| Near Patient Care | 536 | 569 | 15.4 | 16.3 | -5 | -6 |
| Pathology Lab | 417 | 372 | 11.9 | 10.7 | 11 | 12 |
| Regions | ||||||
| Europe, Middle East, Africa | 1,236 | 1,188 | 35.4 | 34.2 | 4 | 4 |
| North America | 1,154 | 1,055 | 33.1 | 30.3 | 7 | 9 |
| Asia-Pacific | 853 | 992 | 24.4 | 28.5 | -15 | -14 |
| Latin America | 248 | 243 | 7.1 | 7.0 | 11 | 2 |
More information on Roche performance in the first quarter of 2025:
About Roche
Founded in 1896 in Basel, Switzerland, as one of the first industrial manufacturers of branded medicines, Roche has grown into the world’s largest biotechnology company and the global leader in in-vitro diagnostics. The company pursues scientific excellence to discover and develop medicines and diagnostics for improving and saving the lives of people around the world. We are a pioneer in personalised healthcare and want to further transform how healthcare is delivered to have an even greater impact. To provide the best care for each person we partner with many stakeholders and combine our strengths in Diagnostics and Pharmaceuticals with data insights from the clinical practice.
For over 125 years, sustainability has been an integral part of Roche’s business. As a science-driven company, our greatest contribution to society is developing innovative medicines and diagnostics that help people live healthier lives. Roche is committed to the Science Based Targets initiative and the Sustainable Markets Initiative to achieve net zero by 2045.
Genentech, in the United States, is a wholly owned member of the Roche Group. Roche is the majority shareholder in Chugai Pharmaceutical, Japan.
For more information, please visit www.roche.com.
All trademarks used or mentioned in this release are protected by law.
References
[1] Unless otherwise stated, all growth rates and comparisons to the previous year in this document are at constant exchange rates (CER: average rates 2024) and all total figures quoted are reported in CHF.
[2] Products launched before 2015.
[3] Core Lab: diagnostics solutions in the areas of immunoassays, clinical chemistry and CustomBiotech.
Molecular Lab: diagnostics solutions for pathogen detection and monitoring, donor screening, sexual health and genomics, genomic tumour profiling.
Near Patient Care: diagnostics solutions in emergency rooms, medical practices and directly with patients, including integrated personalised diabetes management.
Pathology Lab: diagnostics solutions for tissue biopsies and companion diagnostics.
In 2025, sales in the Pathology Lab customer area include sales previously reported in the Molecular Lab customer area to foster business transparency and harmonisation in the use of solutions in the area of cervical intraepithelial neoplasia technology (CINtec). The comparative information for 2024 has been restated accordingly.
In 2025, sales in the Core Lab customer area include sales previously reported in the Near Patient Care customer area to centralise digital healthcare solutions within Roche Information Solutions. The comparative information for 2024 has been restated accordingly.
Cautionary statement regarding forward-looking statements
This document contains certain forward-looking statements. These forward-looking statements may be identified by words such as ‘believes’, ‘expects’, ‘anticipates’, ‘projects’, ‘intends’, ‘should’, ‘seeks’, ‘estimates’, ‘future’ or similar expressions or by discussion of, among other things, strategy, goals, plans or intentions. Various factors may cause actual results to differ materially in the future from those reflected in forward-looking statements contained in this document, such as: (1) pricing and product initiatives of competitors; (2) legislative and regulatory developments and economic conditions; (3) delay or inability in obtaining regulatory approvals or bringing products to market; (4) fluctuations in currency exchange rates and general financial market conditions; (5) uncertainties in the discovery, development or marketing of new products or new uses of existing products, including without limitation negative results of clinical trials or research projects, unexpected side effects of pipeline or marketed products; (6) increased government pricing pressures; (7) interruptions in production; (8) loss of or inability to obtain adequate protection for intellectual property rights; (9) litigation; (10) loss of key executives or other employees; and (11) adverse publicity and news coverage. The statement regarding earnings per share growth is not a profit forecast and should not be interpreted to mean that Roche’s earnings or earnings per share for this or any subsequent period will necessarily match or exceed the historical published earnings or earnings per share of Roche.
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