Roche: share up as 2024 guidance raised
(CercleFinance.com) - On Thursday Roche raised its guidance for FY 2024, after noting an acceleration in sales growth in Q2.
The Swiss biopharmaceutical company said that Q2 sales rose 9% at constant exchange rates, with the decline in sales of Covid-19-related products now a lesser drag on business.
H1 sales rose 5%, underpinned by strong demand for its drugs and diagnostic tools.
Core operating income rose by 11% to almost 11.3bn Swiss francs, with EPS up 9%.
For 2024, Roche now anticipates around 5% annual sales growth at constant exchange rates, while core EPS is expected to grow at less than 10%.
Following this publication, Roche shares rose by 2.8% on Thursday morning in Zurich, posting the second highest increase in the SMI index behind Lonza.
Copyright (c) 2024 CercleFinance.com. All rights reserved.