Roche Posts 46.5 Billion CHF in 9M 2026 Revenue and Reaffirms Full-Year Guidance

Newsquawk · 2026-10-22

Swiss healthcare giant Roche has announced a cumulative revenue of 46.5 billion Swiss francs for the first nine months of 2026. Alongside this financial update, the firm reaffirmed its fiscal year 2026 outlook, anticipating a mid-single-digit increase in sales and a high-single-digit expansion in core earnings per share at constant exchange rates. Looking at divisional performance, pharmaceutical revenues advanced 2% on a reported basis and 7% at constant exchange rates. Meanwhile, diagnostics revenue remained flat on a reported basis but grew 4% under constant currency conditions. Company commentary highlighted that overall expansion was propelled by robust demand for key therapeutics including Xolair, Hemlibra, Ocrevus, Phesgo, and Vabysmo. In the diagnostics division, gains from core laboratory and pathology segments provided support, though these were partially offset by recent healthcare pricing reforms implemented in China.

AI 시장 분석

Roche's 9M 2026 sales reached CHF 46.5 billion, reaffirming its outlook for mid-single-digit sales growth and high-single-digit core EPS growth for the full year. Strong demand for key drugs like Xolair and Hemlibra drove growth, demonstrating solid performance. Investors should focus on the robust fundamentals of the global pharmaceutical sector, which remain intact despite China's healthcare pricing reforms.

상승 영향

Biotechnology — Strong demand for key drugs such as Xolair and Hemlibra drove a 7% increase in pharmaceutical sales at constant exchange rates, recording solid performance growth.

하락 영향

Medical Devices — Diagnostics division sales remained flat, and the aftermath of China's healthcare pricing reforms acted as a major stumbling block to growth.

DYAX 전담 분석

The pharmaceuticals division drove overall performance with a 7% increase in constant exchange rates (CER), while the diagnostics division remained somewhat stagnant due to the impact of China's pricing reforms. Strong sales of major new drugs offset pricing pressure, contributing to profitability defense.

The bullish scenario is achieving performance above annual guidance driven by sustained demand for new drugs, while the bearish scenario is the expansion of pricing reform pressure from the Chinese market to the global level. Key indicators to watch are quarterly sales volumes of major drugs and the recovery of the diagnostics division in China.

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