Roche Sales Disappoint as Drugs Decline Eclipses Covid Tests

Trio of aging medicines suffered from biosimilar competition
Swiss drugmaker’s shares drop in Zurich trading after report

WATCH: CEO Severin Schwan says Roche will be “thoughtful” on pricing the antibody cocktail that's being developed with Regeneron.(Source: Bloomberg)

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By Naomi Kresge

October 15, 2020 at 1:29 AM EDT

Updated on

October 15, 2020 at 3:05 AM EDT

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Roche Holding AG’s third-quarter sales fell short of estimates as a boost from Covid-19 tests and new medicines weren’t enough to offset a decline from aging prescription drugs.

The Swiss drugmaker’s revenue rose 1% to 14.7 billion francs ($16.1 billion), the company said. Analysts expected sales of 15.4 billion francs, according to the average of eight estimates. The stock dropped as much as 2% in Zurich trading.