FRANKFURT, April 24 (Reuters) - Roche confirmed
ambitions to return to sales growth this year on a continued
boost from eye drug Vabysmo, after first-quarter sales slipped
by 6% on the loss on COVID-19-related revenue.
Quarterly sales fell to 14.4 billion Swiss francs
($15.80 billion), the family-controlled drugmaker said in a
statement on Wednesday, hurt also by a strong Swiss franc that
weighed on overseas revenue but in line with analysts
expectations.
Roche, which does not disclose quarterly earnings, said the
rest of the year would no longer be burdened by year-earlier
comparisons that were inflated by COVID-related sales.
It reiterated its 2024 guidance of an increase in sales and
adjusted earnings per share in the "mid single-digit" percentage
range at constant exchange rates.
Excluding currency effects, quarterly revenue from Vabysmo
more than doubled to 847 million francs, surpassing an analyst
consensus of about 750 million francs, after long-term trial
data earlier this year bolstered ophthalmologists' confidence in
the drug.
Vabysmo, which is used to treat a common form of
blindness in the elderly and which won approval in 2022,
challenges rival drug Eylea from Bayer and partner
Regeneron.
At the helm for about a year, CEO Thomas Schinecker is
pursuing a variety of therapeutic fields to offset falling
oncology sales, setting a high deal pace. The group suffered
major drug trial setbacks in Alzheimer's and cancer
immunotherapy in 2022.
Roche in December joined a list of contestants seeking
to challenge weight-loss drug powerhouses Novo Nordisk and Eli
Lilly with the takeover of obesity drug developer
Carmot
for $2.7 billion upfront.
($1 = 0.9115 Swiss francs)