Roche forecasts drop in Covid testing unit’s growth
“Swiss healthcare company Roche said growth momentum for its Covid-19 testing business will probably abate in the coming months, signalling a levelling off of the jackpot that has fuelled sales recently,” reported Bloomberg News (22 July 2021).
The comments on tests came as the company reported first-half profit that beat estimates. Earnings per share rose to Sf10.56 from Sf10.44. The company estimates that sales and earnings excluding certain items will grow by a low- to mid-single-digit percentage.
Roche’s pharmaceutical unit showed signs of a turnaround in recent months, though competition from biosimilar copies of the company’s older cancer medicines continued to weigh on sales growth.