April 23 (Reuters) – Swiss drugmaker Roche said on Thursday that first-quarter sales declined 5% because of negative foreign exchange effects but rose 6% at constant exchange rates, driven by its pharmaceuticals division.
Quarterly group revenues came in at 14.72 billion Swiss francs ($18.74 billion), in line with average analyst expectations of about 14.73 billion francs cited by Visible Alpha.
Roche also confirmed its full-year target of growth in adjusted earnings per share in a “high-single-digit” percentage range and sales growth in a “mid-single-digit” range.
The biggest growth drivers in terms of currency-adjusted sales, multiple sclerosis drug Ocrevus and once-monthly haemophilia shot Hemlibra, rose 6% and 13%, respectively.
The Basel-based company’s results were dampened by a weak U.S. dollar, which is weighing on overseas sales.
After losing about 12% against the Swiss franc last year, the U.S. dollar is now down around 1% year-to-date, following the start of the Iran War.
($1 = 0.7854 Swiss francs)
(Reporting by Marleen KaesebierEditing by Ludwig Burger)
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