- GBI & PARTNERS
- Roche’s sales recover in Brazil in Q3’20, continue growth in Mexico
Roche’s sales recover in Brazil in Q3’20, continue growth in Mexico
- Argentina,Brazil,Cuba,Colombia,Chile,Puerto Rico ,Costa Rica,Panama,Peru,Paraguay,Uruguay,Venezuela,Ecuador ,Dominican Republic,Guyana,Bolivia ,Mexico,Haiti,Guatemala,Honduras,El Salvador,Belize,Nicaragua
- Pharma & Biotech, Device & Diagnostics
Swiss major Roche Holding AG (SWX.RO)’s Q3 2020 financial results reveal the firm stabilized its performance amid the ongoing COVID-19 outbreak. Worldwide group sales over the first nine months were up 1% year-on-year (YOY) in constant currency terms to CHF 43.97 billion (USD 48.09 billion), a return to growth following the Q2 -4% dip. The pharmaceutical division sales were down -1% to CHF 34.31 billion (USD 37.53 billion), while the diagnostics business expanded by +9% YOY to CHF 9.66 billion (USD 10.57 billion), with COVID-19 testing the main contributor.
Roche’s pharmaceutical division now faces severe biosimilars competition around the world against cancer stalwarts Herceptin (trastuzumab), Avastin (bevacizumab), and MabThera (rituximab), which together made up 31% of global sales during the year to date (YTD), down from 42% at the same time in 2019. COVID-19 disruptions have also impacted the ability of patients to access Roche's specialist drug portfolio. New products launched since 2012 provided some compensation with 35% growth, accounting for 40% of YTD sales, from only 29% in 2019. Key new drugs for the firm are the programmed death-ligand 1 (PD-L1) inhibitor Tecentriq (azetolizumab), multiple sclerosis therapy Ocrevus (ocrelizumab), hemophilia treatment Hemlibra (emicizumab), and the Herceptin replacement Perjeta (pertuzumab). GBI analysis shows that these products are all present in Latin America.
Pharmaceutical sales in Brazil recovered from the 24% YOY plunge in Q2 2020, expanding 1% to CHF 219 million (USD 240 million) in Q3, while the Mexico market continued its positive trend growing 8% to CHF 71 million (USD 78 million). Similarly, Q3 diagnostics sales regained impetus in Brazil increasing 18% to CHF 74 million (USD 81 million) from the 25% drop in Q2, while turnover in Mexico reached CHF 49 million (USD 54 million) in Q3, up 36%.