[Ad hoc announcement pursuant to Art. 53 LR] Roche reports good sales growth in the first quarter of 2022
Basel, 25 April 2022
- Group sales increase 11%1 at constant exchange rates (CER) and 10% in Swiss francs
- Pharmaceuticals Division sales up 6%; continued strong sales of new medicines for severe diseases. Impact of biosimilars decreases as expected.
- Diagnostics Division sales grow 24% due to good momentum in base business and continued high demand for COVID-19 tests. After a strong first quarter, significant decline in COVID-19-related testing expected.
- Highlights in the first quarter:
- FDA approval of Vabysmo (severe eye diseases); CHMP recommends EU approval of Polivy combination (aggressive form of blood cancer), Tecentriq (early-stage non-small cell lung cancer) and mosunetuzumab (follicular lymphoma)
- Positive long-term data for Evrysdi (spinal muscular atrophy) and for Vabysmo and Susvimo (severe eye diseases)
- Roche provides molecular testing solutions to identify and differentiate SARS-CoV-2 Omicron variants
- Outlook for 2022 confirmed
Commenting on the Group’s sales, Roche CEO Severin Schwan said: “As expected, we started the year with strong demand for our diagnostics base business, our broad portfolio of COVID-19 tests and our new medicines. I am particularly pleased about the progress we are making in developing our product pipeline, including positive new data in neurology as well as in severe eye diseases. Based on our current assessment of the development of the COVID-19 pandemic, we confirm the outlook for the full year.”
Sales | CHF millions | As % of sales | % change | |||
January - March 2022 | 2022 | 2021 | 2022 | 2021 | At CER | In CHF |
Group sales | 16,445 | 14,930 | 100.0 | 100.0 | 11 | 10 |
Pharmaceuticals Division | 11,159 | 10,600 | 67.9 | 71.0 | 6 | 5 |
United States | 5,489 | 5,292 | 33.4 | 35.4 | 2 | 4 |
Europe | 2,072 | 2,175 | 12.6 | 14.6 | -1 | -5 |
Japan | 1,337 | 852 | 8.1 | 5.7 | 69 | 57 |
International* | 2,261 | 2,281 | 13.8 | 15.3 | 0 | -1 |
Diagnostics Division | 5,286 | 4,330 | 32.1 | 29.0 | 24 | 22 |
*Asia-Pacific, CEETRIS (Central Eastern Europe, Turkey, Russia and Indian subcontinent), Latin America, Middle East, Africa, Canada, others |
Outlook confirmed for 2022
Sales are expected to be stable or grow in the low-single digits (at constant exchange rates). Core earnings per share are targeted to grow in the low- to mid-single digit range (at constant exchange rates), including the accretive effect of the 2021 share repurchase. Roche expects to increase its dividend in Swiss francs further.
Roche anticipates sales of COVID-19 medicines and diagnostics to decrease by approximately CHF 2 billion to around CHF 5 billion, and sales losses to biosimilars in the current year to be roughly CHF 2.5 billion. Excluding those effects, Group sales are expected to grow in the high-single digit range.
Group results
In the first quarter of the year, Group sales rose by 11% (10% in CHF) to CHF 16.4 billion.
Pharmaceuticals Division sales increased by 6% to CHF 11.2 billion. Newly launched medicines to treat severe diseases continued their strong growth, including Ronapreve (COVID-19; mainly in Japan), Ocrevus (multiple sclerosis), Hemlibra (haemophilia), Evrysdi (spinal muscular atrophy) and Phesgo (breast cancer).
The impact of competition from biosimilars for the established cancer medicines Avastin, MabThera/Rituxan and Herceptin has further slowed down as expected (combined CHF 568 million of sales reduction).
In the United States, sales increased by 2%. Ocrevus, Hemlibra, Actemra/RoActemra, Tecentriq and Phesgo were the main growth drivers. This was partly offset by the expected impact of biosimilars.
In Europe, sales decreased by 1%. Growth of Ocrevus, Phesgo and Evrysdi and other innovative medicines was offset by the biosimilars impact and lower Ronapreve sales.
Sales in Japan significantly increased (+69%), driven by the high demand for Ronapreve and other innovative medicines, such as Polivy and Evrysdi.
Sales in the International region were stable. Sales growth of Perjeta, Ronapreve, Alecensa, Evrysdi, Hemlibra and Ocrevus was neutralised by the impact of biosimilars. In China, sales declined by 9% due to strong biosimilars competition; excluding China, sales increased by 5%.
The Diagnostics Division reported strong sales growth of 24% to CHF 5.3 billion. The division’s base business showed good momentum (+10%), especially in the immunodiagnostics business, with cardiac tests as key contributor.
Roche’s leading portfolio of COVID-19 tests remained a major sales driver, with increased demand for point-of-care and PCR tests. The portfolio contributed significantly to the division’s overall sales growth with a total of CHF 1.9 billion (CHF 1.2 billion in the first quarter of 2021).
Sales grew across all regions, driven by North America (59%) and Asia-Pacific (34%). Latin America reported a plus of 9%; Europe, Middle East and Africa (EMEA) grew 2%.
Pharmaceuticals: key development milestones in the first quarter of 2022
Ophthalmology
In January 2022, the FDA approved Vabysmo for the treatment of neovascular or ‘wet’ age-related macular degeneration (nAMD) and diabetic macular oedema (DME). In March, approval was granted in Japan. Neovascular AMD and DME are two leading causes of vision loss, together affecting around 40 million people worldwide.
In February, Roche presented promising longer-term data from its phase III studies of Vabysmo and Susvimo (nAMD). These results further reinforce the potential of both eye medicines to offer durable vision outcomes with fewer eye injections than the current standard of care, thus reducing the treatment burden for people with these conditions.
Oncology
In March, the European Medicines Agency’s Committee for Medicinal Products for Human Use (CHMP) recommended the approval of Polivy combination therapy for the treatment of previously untreated diffuse large B-cell lymphoma (DLBCL). This is the most common form of non-Hodgkin lymphoma. The Polivy regimen is the first therapy in more than 20 years to significantly improve outcomes in this aggressive form of blood cancer.
Also in March, Roche announced that the phase III SKYSCRAPER-02 study, evaluating the investigational anti-TIGIT immunotherapy tiragolumab plus Tecentriq and chemotherapy as an initial treatment for people with extensive-stage small cell lung cancer (ES-SCLC), did not meet its co-primary endpoint of progression-free survival. The broad tiragolumab programme in other cancer types will be continued with high priority.
In April, the phase II acelERA trial on giredestrant did not meet its primary endpoint of progression-free survival in people with a certain form of advanced breast cancer. However, efficacy data were encouraging with a more pronounced benefit in patients with higher dependence on estrogen receptor activity. Overall survival data are still immature. The acelERA trial is the second randomized trial following the phase II coopERA trial in the neoadjuvant setting where giredestrant demonstrated improved efficacy and good safety. Giredestrant is being investigated in further clinical trials for patients with 1st line metastatic breast cancer and early breast cancer. Results from the acelERA trial will be presented at a medical meeting later this year.
Also in April, the CHMP recommended EU approvals of Tecentriq as adjuvant treatment for certain people with early-stage non-small cell lung cancer (eNSCLC) and of mosunetuzumab for the treatment of relapsed or refractory follicular lymphoma (FL).
If approved, Tecentriq will be the first and only cancer immunotherapy available for certain people with early-stage NSCLC in Europe, and mosunetuzumab will be the first CD20xCD3 T-cell engaging bispecific antibody available to treat FL offering a new, off-the-shelf, fixed-duration treatment option.
Neurosciences
At two neurology conferences (the Muscular Dystrophy Association Clinical and Scientific Conference and the American Academy of Neurology Annual Meeting), Roche presented new data from its growing neuroscience portfolio, including multiple sclerosis (MS), spinal muscular atrophy (SMA), neuromyelitis optica spectrum disorder (NMOSD), Alzheimer’s disease (AD) and Duchenne muscular dystrophy (DMD).
The new data underlined the longer-term efficacy and safety for Roche’s new medicines Ocrevus (MS), Evrysdi (SMA) and Enspryng (NMOSD).
- New data for Ocrevus showed benefit in disability progression and cognitive decline in both secondary progressive and primary progressive MS. Roche is also focusing on making its clinical trials more inclusive: A separate analysis included findings from underrepresented populations, such as Black and Hispanic/Latino-American MS patients.
- New data for Evrysdi (pivotal SUNFISH study) confirmed that increases in motor function were sustained at three years while adverse events decreased over the same period.
In addition, Roche and its partner Sarepta announced details of the phase III pivotal study (EMBARK) of delandistrogene moxeparvovec (SRP-9001), an investigational gene therapy for boys living with DMD.
Roche also presented baseline characteristics of its Alzheimer’s disease (AD) clinical programme with gantenerumab, a late-stage investigational subcutaneously administered monoclonal antibody. Data from the pivotal GRADUATE trials are expected in the fourth quarter of 2022.
COVID-19
The high rate of unvaccinated people will continue to put a strain on hospitals and healthcare systems around the world, furthering the need for effective COVID-19 treatments.
In April, the FDA granted priority review to Actemra/RoActemra for the treatment of COVID-19 in hospitalised adults. More than one million people with severe or critical COVID-19 have already been treated with Actemra/RoActemra worldwide, demonstrating the important role of this medicine in the fight against the pandemic. Roche has established a comprehensive access approach to improve the availability of its COVID-19 medicines around the world, such as implementing an international differential pricing strategy, specifically designed to address the needs during this pandemic.
Pharmaceuticals: Key development milestones in the first quarter of 2022
Compound | Indication | Milestone | |
Regulatory | Polivy combination | Previously untreated diffuse large B-cell lymphoma | CHMP recommendation of EU approval |
Actemra/RoActemra | COVID-19 in hospitalised adults | FDA priority review; EU filing; WHO prequalification | |
Vabysmo | Neovascular age-related macular degeneration (nAMD) and diabetic macular oedema (DME) | US and Japan approval; EU filing | |
Tecentriq | Adjuvant treatment for certain people with early-stage non-small cell lung cancer (eNSCLC) | CHMP recommendation of EU approval | |
mosunetuzumab | Relapsed or refractory follicular lymphoma (FL) | CHMP recommendation of EU approval | |
Phase III / pivotal and other key readouts | Vabysmo | Diabetic macular oedema (DME) | Phase III YOSEMITE and RHINE (2-year data) |
Susvimo | Neovascular or ‘wet’ age-related macular degeneration (nAMD) | Phase III Archway (2-year data) | |
Ocrevus | Complete spectrum multiple sclerosis (MS): SPMS and PPMS | Phase III CONSONANCE (1-year data) | |
Evrysdi | SMA type 2 or 3: Long-term efficacy and safety in people aged 2–25 years | Phase III SUNFISH part 1 and 2 (3-year data) | |
Evrysdi | Presymptomatic infants with SMA | Phase II RAINBOWFISH ad interim data | |
Enspryng | Neuromyelitis optica spectrum disorder (NMOSD): Long-term efficacy and safety | Phase III SAkuraSky and SAkuraStar | |
tiragolumab + Tecentriq + chemotherapy | First-line treatment of extensive-stage small cell lung cancer (ES-SCLC) | Phase III SKYSCRAPER-02: co-primary endpoint not met | |
delandistrogene moxeparvovec (SRP-9001) gene therapy | Duchenne muscular dystrophy (DMD) | Phase III study design, EMBARK | |
giredestrant | ER-positive, HER2-negative locally advanced or metastatic breast cancer | Phase II acelERA: primary endpoint not met |
Diagnostics: key milestones in the first quarter 2022
In March, Roche and its subsidiary, TIB Molbiol, confirmed that they have molecular testing solutions to identify and differentiate SARS-CoV-2 Omicron variants of concern. It is critical to quickly and accurately identify variants to inform ongoing research and development of therapeutics and vaccines. This can potentially stop or slow down the advancement of the disease. In addition, differentiated testing helps public health professionals to plan and implement the necessary measures.
Also in March, Roche announced a collaboration with Bristol Myers Squibb to advance personalised healthcare through digital pathology solutions. This collaboration is among the first examples where artificial intelligence (AI) technology and digital pathology applications are playing a role in developing treatments for patients.
Pharmaceuticals sales
Sales | CHF millions | As % of sales | % change | |||
January – March 2022 | 2022 | 2021 | 2022 | 2021 | At CER | In CHF |
Pharmaceuticals Division | 11,159 | 10,600 | 100.0 | 100.0 | 6 | 5 |
United States | 5,489 | 5,292 | 49.2 | 49.9 | 2 | 4 |
Europe | 2,072 | 2,175 | 18.7 | 20.4 | -1 | -5 |
Japan | 1,337 | 852 | 12.0 | 8.0 | 69 | 57 |
International* | 2,261 | 2,281 | 20.1 | 21.7 | 0 | -1 |
*Asia-Pacific, CEETRIS (Central Eastern Europe, Turkey, Russia and Indian subcontinent), Latin America, Middle East, Africa, Canada, others |
Top-selling pharmaceuticals | Total | United States | Europe | Japan | International* | |||||
CHFm | % | CHFm | % | CHFm | % | CHFm | % | CHFm | % | |
Ocrevus | 1,449 | 18 | 1,050 | 12 | 280 | 34 | - | - | 119 | 29 |
Perjeta | 993 | 1 | 362 | -1 | 228 | -21 | 59 | -1 | 344 | 32 |
Hemlibra | 853 | 30 | 520 | 28 | 170 | 31 | 84 | 15 |
By: GlobeNewswire
- 25 Apr 2022
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