Roche reported a 2% decline in first-half revenue to CHF 30.36 billion, as a robust Swiss franc eroded the value of international sales despite strong performance from its blockbuster pharmaceuticals.
The Zurich-based healthcare group disclosed the figures on Thursday, noting that while its core drug portfolio continued to drive organic growth, the translation effect from the strong domestic currency significantly weighed on the top line.
The results underscore the ongoing challenge for Swiss multinationals navigating a period of franc strength.
While Roche’s pharmaceutical division benefited from continued demand for key oncology and immunology treatments, the currency drag prevented the company from reporting year-on-year revenue growth in reporting currency terms.
This dynamic has become a recurring theme for European exporters, where operational success is frequently offset by unfavorable exchange rate movements.
Investors will be closely watching how Roche manages these currency headwinds in the second half of the year.