On February 3, 2022 Hoffmann-La Roche reported that Sales are expected to be stable or grow in the low-single digits (at constant exchange rates) (Press release, Hoffmann-La Roche, FEB 3, 2022, View Source [SID1234607660]). Core earnings per share are targeted to grow in the low- to mid-single digit range (at constant exchange rates), including the accretive effect of the recent share repurchase . Roche expects to increase its dividend in Swiss francs further.
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Roche anticipates sales of COVID-19 medicines and diagnostics to decrease by approximately CHF 2 billion to around CHF 5 billion, and sales losses to biosimilars in the current year to be roughly CHF 2.5 billion. Excluding those effects, Group sales are expected to grow in the high-single digit range.
CEO Severin Schwan on the full-year results: "We achieved good results in 2021. The demand for our new medicines and diagnostics remains very high. I am particularly pleased with the progress of our product pipeline across several areas, including oncology, vision loss and neurological diseases. Based on our strong product portfolio in both divisions and the promising product pipeline, we are well positioned for future growth."
Group results
In 2021, Group sales rose 9% (8% in CHF) to CHF 62.8 billion. Core operating profit increased 4% (2% in CHF), reflecting the strong underlying business performance, and core EPS grew 6% (3% in CHF). The Swiss franc’s appreciation against almost all currencies affected the results expressed in Swiss francs compared to constant exchange rates.
IFRS net income was CHF 14.9 billion. This represents an increase of 2% (-1% in CHF), driven by the operating results.
In December, Roche completed the CHF 19.0 billion repurchase of Roche shares held by Novartis. This restores Roche’s full strategic flexibility while retaining its operational scope of action.
Pharmaceuticals Division sales increased by 3% to CHF 45.0 billion. Strong demand for newly launched medicines to treat severe diseases, namely Hemlibra (haemophilia), Ocrevus (multiple sclerosis), Tecentriq (cancer), Evrysdi (spinal muscular atrophy), and Phesgo (cancer) drove this growth; medicines for the treatment of COVID-19 also contributed to sales growth (Ronapreve for high-risk COVID-19 patients and Actemra/RoActemra for severe COVID-19 pneumonia).