• Group sales grew by 7% at constant exchange rates (CER; 2% in CHF) in the first nine months, driven by high demand for our innovative medicines and diagnostics.
• Pharmaceuticals Division sales rose by 9% (4% in CHF) due to continued high growth in sales of medicines for the treatment of severe diseases; Phesgo (breast cancer), Xolair (food allergies), Hemlibra (haemophilia A), Vabysmo (serious eye diseases) and Ocrevus (multiple sclerosis) were the top growth drivers.
• Diagnostics Division sales increased by 1% (-4% in CHF) as demand for pathology solutions and molecular diagnostics more than offset the impact of healthcare pricing reforms in China.

Outlook for 2025 earnings raised

Roche $ROG (-0,78 %) expects an increase in Group sales in the mid single digit range (CER). Core earnings per share are targeted to develop in the high single to low double digit range (CER). Roche expects to further increase its dividend in Swiss francs.

https://www.roche.com/investors/updates/inv-update-2025-10-23

$ROG (-0,78 %)

Roche has said that it and its U.S. unit Genentech remain committed to working with the Trump administration towards strengthening American manufacturing and making medicines more affordable for patients in the United States.

$ROG (-0,78 %)

CHMP recommends EU approval of Roche’s subcutaneous formulation of Lunsumio for people with relapsed or refractory follicular lymphoma

• 
  Lunsumio provides high and long-lasting response rates, with approximately two-thirds of patients with a complete response in remission after four years1
• Subcutaneous Lunsumio has potential to substantially reduce treatment administration time with an approximately one minute injection, compared with 2-4 hours IV infusion
• If approved, Lunsumio would be the first treatment available for people with follicular lymphoma after two or more lines of systemic therapy, which is both fixed-duration and subcutaneously administered

$ROG (-0,78 %)

Roche’s Board of Directors proposes exchange of Genussscheine for participation certificates (Partizipationsscheine)

• 
  Participation certificates (Partizipationsscheine) with a nominal value of CHF 0.001 each will replace the non-voting equity securities (Genussscheine).
• Reduction of the nominal value of the bearer shares (Inhaberaktien) from CHF 1 to CHF 0.001 in line with the nominal value of the new participation certificates.
• Participation certificates are economically equivalent to Genussscheine and will be listed on the SIX Swiss Exchange.
• Discontinuation of printed dividend vouchers and a further transition to intermediated securities, in line with efficient and modern market practices.
• The exchange of Genussscheine for participation certificates and the reduction as well as the repayment of the nominal value of the bearer shares will be submitted to the shareholders for approval at the 2026 Annual General Meeting

Kurze Zusammenfassung:

Roche and Genentech have shared an internal update regarding a new U.S. Executive Order focused on drug pricing. The order, titled “Delivering Most Favored Nation Prescription Drug Pricing to American Patients,” aims to benchmark U.S. drug prices against the lowest prices found in other developed countries. While still in early stages and requiring a regulatory process to implement, this policy could have major implications for the pharmaceutical industry.

The Executive Order directs the government to publish a target price list within 30 days and asks drug manufacturers to make progress toward those prices. If not, further actions — such as importing cheaper drugs — could follow. Diagnostics and medical devices are not affected.

Roche expresses concern that the policy may harm innovation, reduce R&D investment, and fail to address the root issues of high patient costs in the U.S., which often stem from intermediaries in the healthcare system. The company supports reforms that improve patient affordability without undermining scientific progress and is working with policymakers to shape more effective solutions.

No immediate impact on Roche’s business is expected this year and the company remains committed to both innovation and patient access.

$ROG (-0,78 %)

I screened 7 global blue chips with a value/growth balance using my PASS and Buffett-style filters. Here’s the verdict:

🔝 1. Chocoladefabriken Lindt & Sprüngli ($LISP (-0,45 %) )

🟩 Score: 89 – Excellent

📈 WB Score: 7 (Grade B)

📌 Insider-led, durable moat, elite brand.

🚨 BUT: Price per share (CHF 12,210!) makes it impractical for my strategy.

🥈 2. Nestlé ($NESN (-0,7 %) )

🟨 Score: 75 – Strong

📈 WB Score: 4 (Grade D)

⚖️ Balanced income with global stability. Mildly overvalued but still attractive.

🥉 3. Mondelez ($MDLZ (+0,94 %) )

🟨 Score: 70 – Strong

📈 WB Score: 4 (Grade D)

🍫 Snack leader with consistent cash flows. Mildly overvalued, but solid anchor.

⚖️ Honorable Mentions

• Roche ($ROG (-0,78 %) ) – ⚖️ Fairly priced, insider-led, great pipeline, but slight value trap warning.
• Zurich Insurance ($ZURN (-0,37 %) ) – Stable, shareholder-friendly.
• UBS ($UBSG (+1,17 %) ) – Riskier financial play, some trap signals.
• On Holding ($ONON (-1,65 %)) – Growth potential, but overvalued; needs close monitoring.

🧠 Strategy Notes

✅ Favoring undervalued or stable-yield stocks with clear rotation plans.

❌ LISP is a dream stock, but high entry price makes it unsuitable for my dividend + compounding approach.

But I’m convinced it would make a fine addition to a portfolio and I will keep an eye on it and have it as one of my white whales!

April 24, 2025

• Group sales grew by 6%1 at constant exchange rates (CER; 7% in CHF), driven by high demand for newer medicines and diagnostic solutions.
• Pharmaceuticals Division sales rose by 8% (9% in CHF) on continued strong demand for a broad range of our medicines; top growth drivers were Phesgo (breast cancer), Vabysmo (severe eye diseases), Xolair (allergies) and Hemlibra (haemophilia A).
• Diagnostics Division sales remained stable with high demand across products and regions offsetting the impact of the recent healthcare pricing reforms in China.

• Highlights:
• US approval for Evrysdi tablet for spinal muscular atrophy and Susvimo for the leading cause of diabetes-related blindness
• EU approval for Columvi combination with chemotherapy for people with relapsed or refractory diffuse large B-cell lymphoma
• US acceptance of supplemental Biologics License Application for Gazyva/Gazyvaro for lupus nephritis
• Trontinemab for Alzheimer’s disease and NXT007 for haemophilia A to move into phase III
• Exclusive collaboration and licensing agreement with Zealand Pharma to co-develop and co-commercialise amylin analogue as a stand-alone therapy as well as a fixed-dose combination with Roche’s lead incretin asset CT-388 for weight loss
• Unveiling of novel sequencing by expansion (SBX) technology, a new class of next-generation sequencing
• Announcement of plans to invest USD 50 billion in pharmaceuticals and diagnostics in the US in R&D and manufacturing over the next five years
• Announcement of plans to establish Roche Genentech Innovation Center Boston

Outlook for 2025 confirmed

Roche (SIX: RO, ROG; OTCQX: RHHBY) expects an increase in Group sales in the mid single digit range (CER). Core earnings per share are targeted to develop in the high single digit range (CER). Roche expects to further increase its dividend in Swiss francs.

$ROG (-0,78 %)