Roche Warns On Anti-Trust Zeal While Posting Painful Q1

But Says Biosimilar Erosion ‘Has Already Hit High Watermark’

 
• By Sten Stovall
  
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Biosimilar erosion and slack drugs sales caused by the pandemic depressed Roche’s first quarter pharma revenue while its diagnostics unit saw sales soar on COVID testing.

Strong Q1 Diagnostics Offset Limp Drug Sales • Source: Alamy

Presentinga lacklustre first-quarter performance that had been widely predicted, Roche Holding AG’s management sought to reassure investors that the worst was over. Group overall sales should now gradually improve, it said, as the flood of biosimilars eroding its key legacy drugs has already peaked, and sales of its innovative new products should rise as pandemic-imposed barriers to patient demand ease.

CEO Severin Schwan also took the opportunity to caution against overly zealous antitrust regulators, whose scrutiny of biopharma M&A activities,...

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