Roche projects its full-year sales to grow at a low-to-mid single-digit in constant currencies as global efforts to test people for COVID-19 increased, according to Reuters. Sales of diagnostics, including coronavirus tests, which Roche provides, rose 2% in September to $10.6 billion, helping the company’s diagnostics division record revenues.
- Roche expects profits to rise roughly in line with sales.
- September sales helped Roche to offset falling drug sales and keep track of full-year 2020 targets.
- Revenue declined 5% to 44 billion Swiss Francs as rising currency eroded reported earnings, but sales rose 1% in constant currency terms.
Roche’s stock declined on declined revenue. RO: SWX is down 2.71%