Due to significant revenue growth from other medications, Roche (ROG.S)’s first-quarter revenues fell 7% on decreased demand for COVID-19 treatments and diagnostics kits, less than analysts expected.
The business announced Wednesday that quarterly group revenue decreased to 15.3 billion Swiss francs ($17.2 billion), exceeding market forecasts of 14.8 billion.
The firm, which sells coronavirus lab tests, antibody therapy Ronapreve, and COVID-fighting Actemra, does not declare earnings for its first and third quarters.
The medicines and diagnostics firm predicted “low single-digit” sales and core earnings per share declines in 2023.
Roche reported quarterly sales of 432 million francs for Vabysmo, an injectable for older people with a prevalent form of blindness.
