[Ad hoc announcement pursuant to Art. 53 LR] Roche reports strong sales growth of +6% at constant exchange rates in the first quarter of 2026; -5% in CHF due to the significant appreciation of the Swiss franc
Rhea-AI Summary
Roche (OTCQX: RHHBY) reported Group sales of CHF 14.7bn in Q1 2026: +6% at constant exchange rates, -5% in CHF and +9% in USD. Pharmaceuticals grew +7% CER (CHF 11.5bn) and Diagnostics +3% CER (CHF 3.3bn). Key clinical wins include positive phase III results for fenebrutinib (MS) and Gazyva (membranous nephropathy), CE mark for Elecsys NfL, launch of an NVIDIA AI factory, a definitive agreement to acquire SAGA Diagnostics, and a dividend increase to CHF 9.80. Outlook: mid single‑digit Group sales growth (CER) and high single‑digit core EPS growth (CER) for 2026.
Positive
- Group sales CHF 14.7bn, +6% at CER
- Pharmaceuticals sales CHF 11.5bn, +7% at CER
- CE mark for Elecsys NfL blood test
- Positive phase III for fenebrutinib in MS
- Definitive agreement to acquire SAGA Diagnostics
- Dividend increased to CHF 9.80 per share
Negative
- -5% in CHF due to Swiss franc appreciation
- Diagnostics sales -7% in CHF despite +3% CER
- US reported sales down -9% in CHF vs 2025
- China pricing reforms pressured Asia‑Pacific Diagnostics (-15% in CHF)
News Market Reaction – RHHBY
In the Apr 23 session, RHHBY gained 1.29%, reflecting a mild positive market reaction.
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- Group sales were +
6% at constant exchange rates (CER)1, -5% when reported in CHF and +9% in USD2, in the first three months, driven by high demand for our innovative medicines and diagnostics. - Pharmaceuticals Division sales were +
7% at CER, -4% when reported in CHF and +10% in USD, due to continued high growth in sales of medicines for the treatment of severe diseases; Xolair (chronic hives, food allergies), Phesgo (breast cancer), Hemlibra (haemophilia A), Vabysmo (severe eye diseases) and Ocrevus (multiple sclerosis) were the top growth drivers. - Diagnostics Division sales were +
3% at CER, -7% when reported in CHF and +7% in USD, as demand for core lab and pathology solutions more than offset the impact of healthcare pricing reforms in China. - Highlights:
- Positive data for: fenebrutinib for multiple sclerosis (phase III), Gazyva/Gazyvaro for an autoimmune condition affecting kidney function (phase III); and petrelintide for obesity (phase II)
- CE mark for new Elecsys NfL blood test to detect neuroinflammation in multiple sclerosis, representing a breakthrough in disease management
- Launch of the cobas MPX-E assay, a new 4-in-1 test to screen blood donors for HIV and hepatitis viruses
- Launch of the AI factory to accelerate the development of new therapeutics and diagnostics solutions
- Entry into a definitive agreement to acquire SAGA Diagnostics: SAGA’s proprietary cancer therapy response monitoring platform will strengthen Roche’s industry leading portfolio of oncology diagnostics and medicines
- Inauguration of the new research home for the Institute of Human Biology to enable scientists to pioneer human model systems for research
- Outlook for 2026 confirmed
Roche CEO Thomas Schinecker: “We delivered a strong start to the year, achieving
Our pipeline continued to advance in areas where patients face significant unmet need, including multiple sclerosis, obesity and a severe autoimmune disease that can lead to kidney failure. We also received EU approval for a new test to detect neuroinflammation in multiple sclerosis, marking a meaningful step forward in disease management.
Our diversified portfolio across both divisions, together with continued pipeline progress, positions us well for sustained future growth in a dynamic geopolitical environment. We confirm our full-year outlook.”
Outlook for 2026
Roche (SIX: RO, ROP; OTCQX: RHHBY) expects an increase in Group sales in the mid single digit range (CER) for 2026. 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.
| Sales | CHF millions | As % of sales | % change | ||||
| January–March | 2026 | 2025 | 2026 | 2025 | At CER | In CHF | In USD |
| Group | 14,722 | 15,440 | 100.0 | 100.0 | +6 | -5 | +9 |
| Pharmaceuticals Division | 11,469 | 11,949 | 77.9 | 77.4 | +7 | -4 | +10 |
| United States | 5,693 | 6,224 | 38.7 | 40.3 | +5 | -9 | |
| Europe | 2,234 | 2,320 | 15.2 | 15.0 | -1 | -4 | |
| Japan | 649 | 671 | 4.4 | 4.3 | +14 | -3 | |
| International | 2,893 | 2,734 | 19.6 | 17.8 | +16 | +6 | |
| Diagnostics Division | 3,253 | 3,491 | 22.1 | 22.6 | +3 | -7 | +7 |
| International: Asia-Pacific, CEETRIS (Central Eastern Europe, Türkiye, Russia and Indian subcontinent), Latin America, Middle East, Africa, Canada, others | |||||||
Group sales
In the first three months of 2026, Roche sales were +
Sales in the Pharmaceuticals Division were +
The top five growth drivers – Xolair, Phesgo, Hemlibra, Vabysmo and Ocrevus – achieved total sales of CHF 5.3 billion, an increase of
Sales of products with expired patents (Avastin, Herceptin, MabThera/Rituxan, Lucentis and Actemra/RoActemra) decreased by a combined CHF 0.1 billion at CER, or CHF 0.2 billion in CHF.
In the United States, sales were +
Sales in Europe were -
In Japan, sales were +
Sales in the International region were +
The Diagnostics Division’s sales were +
Sales in the Europe, Middle East and Africa (EMEA) region were +
Pharmaceuticals: key developments
| Compound | Milestone |
| Regulatory | |
| Gazyva/Gazyvaro Lupus | FDA accepts application for Gazyva/Gazyvaro for the treatment of the most common form of lupus
More information: Media Release, 21 April 2026 |
| Giredestrant Breast cancer | FDA accepts New Drug Application for giredestrant in ESR1-mutated, ER-positive advanced breast cancer
More information: Media Release, 20 February 2026 |
| Phase III, pivotal and other key read-outs | |
| Enspryng MOGAD | Enspryng reduces risk of relapses by
More information: Media Release, 21 April 2026 |
| Giredestrant Breast cancer | Roche provides update on phase III persevERA study in ER-positive advanced breast cancer
More information: Media Release, 9 March 2026 |
| Petrelintide Obesity | Roche announces positive phase II results for petrelintide, an amylin analogue developed for people living with overweight and obesity
More information: Media Release, 5 March 2026 |
| Fenebrutinib Multiple sclerosis | Fenebrutinib confirms its potential as first and only BTK inhibitor for relapsing and primary progressive multiple sclerosis (MS) in third positive phase III study (FENhance 1)
More information: Media Release, 2 March 2026 |
| Gazyva/Gazyvaro Membranous nephropathy | Roche announces positive phase III results for Gazyva/Gazyvaro in primary membranous nephropathy, marking a significant milestone in treatment of this autoimmune disease
More information: Media Release, 16 February 2026 |
| Fenebrutinib Multiple sclerosis | Fenebrutinib is the first investigational medicine in over a decade that reduces disability progression in primary progressive multiple sclerosis (PPMS)
More information: Media Release, 7 February 2026 |
| Other | |
| Institute of Human Biology | Roche inaugurates new research home for the Institute of Human Biology (IHB), pioneering human model systems to accelerate drug discovery and development
More information: Media Release, 23 March 2026 |
| AI factory | Roche launches NVIDIA AI factory to accelerate the development of new therapeutics and diagnostics solutions
More information: Media Release, 16 March 2026 |
| Annual General Meeting | Roche Annual General Meeting 2026
More information: Media Release, 10 March 2026 |
| Gazyva/Gazyvaro Lupus | New England Journal of Medicine publishes phase III ALLEGORY data showing Gazyva/Gazyvaro significantly reduces disease activity in the most common form of lupus
More information: Media Release, 6 March 2026 |
| Change in Enlarged Corporate Executive Committee | Change to the Roche Enlarged Corporate Executive Committee
More information: Media Release, 17 February 2026 |
Pharmaceuticals sales
| Sales | CHF millions | As % of sales | % change | |||
| January–March | 2026 | 2025 | 2026 | 2025 | At CER | In CHF |
| Pharmaceuticals Division | 11,469 | 11,949 | 100.0 | 100.0 | +7 | -4 |
| United States | 5,693 | 6,224 | 49.6 | 52.1 | +5 | -9 |
| Europe | 2,234 | 2,320 | 19.5 | 19.4 | -1 | -4 |
| Japan | 649 | 671 | 5.7 | 5.6 | +14 | -3 |
| International | 2,893 | 2,734 | 25.2 | 22.9 | +16 | +6 |
International: Asia-Pacific, CEETRIS (Central Eastern Europe, Türkiye, Russia and Indian subcontinent), Latin America, Middle East, Africa, Canada, others
| Top 20 best-selling pharmaceuticals (% change at CER1) | Total | United States | Europe | Japan | International | |||||
| CHF m | % | CHF m | % | CHF m | % | CHF m | % | CHF m | % | |
| Ocrevus Multiple sclerosis | 1,692 | +6 | 1,117 | +3 | 363 | +9 | - | - | 212 | +24 |
| Hemlibra Haemophilia A | 1,190 | +13 | 613 | +15 | 252 | +5 | 81 | +18 | 244 | +14 |
| Vabysmo Eye diseases (nAMD, DME, RVO) | 1,024 | +13 | 652 | +4 | 190 | 0 | 37 | +39 | 145 | +126 |
| Tecentriq Cancer immunotherapy | 811 | +4 | 378 | +6 | 202 | -6 | 69 | 0 | 162 | +14 |
| Xolair3 Chronic hives, food allergies | 708 | +26 | 708 | +26 | - | - | - | - | - | - |
| Phesgo Breast cancer | 686 | +27 | 159 | +2 | 206 | +7 | 42 | +23 | 279 | +78 |
| Perjeta3 Breast cancer | 672 | -11 | 263 | -12 | 119 | -15 | 12 | -19 | 278 | -9 |
| Actemra/RoActemra3 RA, COVID-19 | 534 | -4 | 248 | -3 | 124 | -16 | 66 | +9 | 96 | +5 |
| Evrysdi Spinal muscular atrophy | 464 | +19 | 160 | +15 | 159 | +13 | 18 | +4 | 127 | +40 |
| Kadcyla3 Breast cancer | 439 | -4 | 156 | -11 | 123 | -6 | 19 | +6 | 141 | +5 |
| Polivy Blood cancer | 407 | +26 | 171 | +26 | 63 | -32 | 46 | +24 | 127 | +120 |
| Alecensa Lung cancer | 401 | +12 | 105 | -7 | 63 | -5 | 43 | +4 | 190 | +39 |
| MabThera/Rituxan3 Blood cancer, RA | 292 | +10 | 183 | +16 | 31 | -8 | 3 | -6 | 75 | +6 |
| Activase/TNKase3 Cardiac diseases | 255 | -2 | 244 | -2 | - | - | - | - | 11 | -4 |
| Gazyva/Gazyvaro3 Blood cancer, lupus nephritis | 247 | +10 | 115 | +1 | 57 | -2 | 9 | +28 | 66 | +45 |
| Herceptin3 Breast and gastric cancer | 234 | -12 | 44 | -16 | 69 | -7 | 1 | -24 | 120 | -14 |
| Avastin3 Various cancer types | 224 | -9 | 59 | -15 | 14 | +3 | 21 | -29 | 130 | -1 |
| CellCept3 Immunosuppressant | 99 | +10 | 4 | -5 | 28 | -14 | 9 | -16 | 58 | +37 |
| Enspryng Acute inflammation of brain, spinal cord and optic nerves | 96 | +31 | 22 | +20 | 11 | +20 | 35 | +13 | 28 | +93 |
| Columvi Blood cancer | 95 | +77 | 43 | +35 | 21 | +84 | - | - | 31 | +204 |
DME: diabetic macular edema / nAMD: neovascular or ‘wet’ age-related macular degeneration / RVO: retinal vein occlusion / RA: rheumatoid arthritis
Diagnostics: key developments
| Product | Milestone |
| Elecsys NfL blood test Multiple sclerosis | Roche receives CE mark for new Elecsys NfL blood test to detect neuroinflammation in multiple sclerosis (MS)
More information: Media Release, 13 April 2026 |
| cobas MPX-E assay HIV and hepatitis viruses | Roche launches the cobas MPX-E assay, a new 4-in-1 donor screening test to further safeguard the global blood supply
More information: Media Release, 30 March 2026 |
Diagnostics sales
| Sales | CHF millions | As % of sales | % change | |||
| January–March | 2026 | 2025 | 2026 | 2025 | At CER | In CHF |
| Diagnostics Division | 3,253 | 3,491 | 100.0 | 100.0 | +3 | -7 |
| Customer areas | ||||||
| Core Lab | 1,798 | 1,904 | 55.3 | 54.5 | +4 | -6 |
| Molecular Lab | 571 | 634 | 17.5 | 18.2 | 0 | -10 |
| Near Patient Care | 465 | 536 | 14.3 | 15.4 | -5 | -13 |
| Pathology Lab | 419 | 417 | 12.9 | 11.9 | +12 | 0 |
| Regions | ||||||
| Europe, Middle East, Africa | 1,206 | 1,236 | 37.1 | 35.4 | +3 | -2 |
| North America | 1,073 | 1,154 | 33.0 | 33.1 | +6 | -7 |
| Asia-Pacific | 725 | 853 | 22.3 | 24.4 | -5 | -15 |
| Latin America | 249 | 248 | 7.6 | 7.1 | +10 | 0 |
More information on Roche’s performance in the first three months of 2026:
About Roche
Roche (SIX: RO, ROP; OTCQX: RHHBY) is a healthcare company uniquely placed to prevent, stop and cure diseases by uniting leading science and technology across diagnostics, medicines and digital solutions.
Roche was founded in Basel, Switzerland in 1896 and today is a leading provider of transformative medicines and diagnostics for millions of people in over 150 countries around the world. It is dedicated to tackling healthcare challenges that place the greatest strain on patients, families, communities and healthcare systems. Across its Diagnostics and Pharmaceutical divisions, Roche focuses on areas including oncology, neurology, cardiovascular and metabolic diseases, ophthalmology, infectious diseases and immunology with the aim of providing real and positive change for patients, the people they love and the professionals who care for them.
Genentech in the United States is a fully owned subsidiary in the Roche Group. Roche is the majority shareholder in Chugai Pharmaceutical, a major innovator in the Japanese therapeutic antibody market.
For more information, please visit www.roche.com.
All trademarks used or mentioned in this release are protected by law.
References
[1] CER (Constant Exchange Rates). The percentage changes at constant exchange rates are calculated using simulations by reconsolidating both the 2026 and 2025 results at constant exchange rates (the average rates for the year ended 31 December 2025). For the definition of CER, see page 178 of the Roche Finance Report 2025.
[2] USD (US dollars). The percentage changes for selected sales figures at US dollars are calculated by translating both the 2026 and 2025 sales figures at the respective average US dollar exchange rate for the period in question. This supplementary information is provided to assist readers when assessing comparability with other companies.
[3] Products launched before 2015.
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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