Basel based Swiss pharmaceutical and diagnostic giant Roche, reported strong financial results in the third quarter of 2024, with group revenues increasing by 9% at constant currency rates (CER), building on the pace of the second quarter. In the first nine months, sales increased by 6% to CHF 45.0 billion. Roche's sales increased by 8%, excluding COVID-19-related items, because of robust demand for its medicines and diagnostics.

The Pharmaceuticals Division reported a 7% increase in sales to CHF 34.3 billion. This growth was mostly due to its novel treatments for serious conditions. "Our strong growth momentum continued in the third quarter, reflecting the high demand for our innovative medicines and diagnostic solutions and their positive impact on patients' lives around the world," Thomas Schinecker, CEO of Roche, told analysts.

Vabysmo (for serious eye illnesses), Phesgo (for breast cancer), and Ocrevus (for multiple sclerosis) have all contributed significantly to this rise. Vabysmo, which premiered in 2022, remained a major driver, producing CHF 2.8 billion in sales. Roche also gained US authorization for Itovebi (inavolisib) for breast cancer and Ocrevus Zunovo, a subcutaneous injectable for multiple sclerosis that strengthens its portfolio.

The Diagnostics Division's sales climbed by 5% in the first nine months, reaching CHF 10.7 billion. The base business expanded by 8%, owing to high demand for immunodiagnostic, pathology, and molecular solutions. Roche also announced the release of their new Cobas Respiratory Flex test, which employs breakthrough TAGS technology.

In a strategic move, Roche acquired AntlerA Therapeutics to strengthen its ophthalmology pipeline and agreed to buy next-generation CDK inhibitors for breast cancer. The company recently completed the acquisition of LumiraDx's point-of-care technology, which will increase access to diagnostic testing in low- and middle-income nations.

When asked about the business's prospects, Schinecker responded, "We made significant progress in our pharmaceuticals portfolio in the last quarter with five important regulatory approvals for our medicines, three positive phase III read-outs, and two acquisitions to strengthen our oncology and ophthalmology pipelines."

Looking ahead, Roche confirmed its 2024 projection, which includes a mid-single-digit increase in Group revenues and high single-digit growth in core earnings per share (CER). The corporation also plans to enhance its dividend in Swiss francs.