Roche Holding AG (OTCQX:RHHBY) Q1 2023 Earnings Conference Call April 26, 2023 8:00 AM ET
Company Participants
Bruno Eschli - Head, IR
Thomas Schinecker - CEO, Roche Group
Teresa Graham - CEO, Roche Pharmaceuticals
Matthew Sause - CEO, Roche Diagnostics
Alan Hippe - Chief Financial and Information Officer
Conference Call Participants
Matthew Weston - Credit Suisse
Luisa Hector - Berenberg
Sachin Jain - Bank of America
Michael Leuchten - UBS
Richard Parkes - Exane
Richard Vosser - JPMorgan
Tim Anderson - Wolfe Research
Mark Purcell - Morgan Stanley
Emily Field - Barclays
Steve Scala - Cowen
Andrew Baum - Citi
Simon Baker - Redburn
Peter Welford - Jefferies
Bruno Eschli
[abrupt start]
you may also raise your virtual hand to address your questions verbally. [Operator Instructions] One last remark, if you would like to follow the presented slides on your end as well, please feel free to go to roche.com/investors to download the presentation.
At this time, it's my pleasure to introduce you to Thomas Schinecker, CEO Roche Group; Mr. Schinecker, the stage is yours.
Thomas Schinecker
Good morning and good afternoon everyone. Together with my team, I'm looking forward to presenting the Q1 2023 results. So, let's get right into it. Group sales declined by 3% and this was driven by the expected decline in COVID-19 testing. The underlying base business in both divisions reported strong growth results, which meant for the group plus 8% for the base business.
Pharma had a very strong performance in Q1 with plus 9% and this was driven by the ongoing portfolio rejuvenation. We had also a good diagnostics-based business growth of plus 4%. The COVID-19 sales decline is in line with our full year 2023 expectations and our full year guidance of roughly minus CHF5 billion.
The growth in Pharma was strongly
- Read more current RHHBY analysis and news
- View all earnings call transcripts