Roche’s full year 2023 revenues look set to shrink slightly due to a hefty CHF4.5bn ($5bn) decline in COVID-19 sales compared with last year but underlying growth from new products, including a hugely successful launch of eye drug Vabysmo, should set it up for a bounce back in 2024.
Roche Looks Steady In Headwinds But Under Pressure To Deliver M&A
The Swiss company will see a slight decline in revenues this year as its COVID-19 sales drop off and investors are calling for a return to M&A to help spur growth.

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Industry lobbied for pharmaceuticals to be exempt from Trump’s sweeping US tariffs and the effort appears to have paid off. J&J, Lilly and Merck & Co. even got shout outs.
Strong sales growth for the German group’s SGLT2 inhibitor in 2024
Pharma executives and investors are waiting with bated breath to find out if President Trump will include drugs in a new round of tariffs to be announced on 2 April.
Supply chain disruption fears at the start of the COVID-19 pandemic caused drug over-ordering. Imminent tariffs on drugs may have had a similar effect on pharma sales in Q1 earnings season.
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The German firm’s chairman, Hubertus von Baumbach, is adopting a ‘wait-and-see’ approach to the threat of pharma tariffs.
Trump announced a 26% reciprocal tariff on India but a country-agnostic exemption of pharmaceuticals implies that the interests of Indian firms and the US consumer are protected for now. What is Indian pharma’s business exposure and what is domestic industry saying?
Industry lobbied for pharmaceuticals to be exempt from Trump’s sweeping US tariffs and the effort appears to have paid off. J&J, Lilly and Merck & Co. even got shout outs.