Finance
Roche Q1 Sales Down on Forex Effects
Published by Global Banking & Finance Review®
Posted on April 23, 2026
2 min readLast updated: April 23, 2026
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Roche Q1 2026 reported group sales of CHF 14.72 billion, unchanged versus expectations, held back by negative forex impact though sales rose on a constant‑currency basis.
Roche sales down 5% as forex effects outweigh haemophilia drug gains
Roche Q1 Financial Performance Overview
Quarterly Sales and Analyst Expectations
April 23 (Reuters) - Swiss drugmaker Roche said on Thursday that first-quarter sales declined 5% because of negative foreign exchange effects but rose 6% at constant exchange rates, driven by its pharmaceuticals division.
Quarterly group revenues came in at 14.72 billion Swiss francs ($18.74 billion), in line with average analyst expectations of about 14.73 billion francs cited by Visible Alpha.
Full-Year Outlook and Growth Drivers
Full-Year Targets
Roche also confirmed its full-year target of growth in adjusted earnings per share in a "high-single-digit" percentage range and sales growth in a "mid-single-digit" range.
Key Pharmaceutical Products
Ocrevus and Hemlibra Performance
The biggest growth drivers in terms of currency-adjusted sales, multiple sclerosis drug Ocrevus and once-monthly haemophilia shot Hemlibra, rose 6% and 13%, respectively.
Impact of Foreign Exchange Rates
The Basel-based company's results were dampened by a weak U.S. dollar, which is weighing on overseas sales.
After losing about 12% against the Swiss franc last year, the U.S. dollar is now down around 1% year-to-date, following the start of the Iran War.
Additional Information
($1 = 0.7854 Swiss francs)
(Reporting by Marleen KaesebierEditing by Ludwig Burger)
Key Takeaways
- •Forex drag weighed on reported revenues despite underlying growth at constant exchange rates.
- •Reported Q1 revenues of CHF 14.72 billion matched Visible Alpha consensus around CHF 14.73 billion.
- •Roche continues to benefit from strong demand for newer medicines and diagnostics, supported by 2025’s 7 % CER full‑year growth
Frequently Asked Questions about Roche Q1 sales down on forex effects
1Why did Roche's Q1 sales decline?
Roche's first-quarter sales declined mainly due to negative foreign exchange effects.
2What were Roche's Q1 group revenues?
Roche's quarterly group revenues were 14.72 billion Swiss francs ($18.74 billion).
3Did Roche's Q1 results meet analyst expectations?
Yes, Roche's Q1 revenues were in line with analyst expectations of around 14.73 billion francs.
4How did Roche's sales perform at constant exchange rates?
Roche's sales rose at constant exchange rates despite the negative impact from foreign exchange.
