Get to know your offshore companies: ROCHE HOLDING AG (VTX: ROG)

Roche Holding AG is a research-based healthcare company. The company’s operating businesses are organised into two divisions: Pharmaceuticals and Diagnostics.

The company recently released its financial results for the six months ended 30 June 2020. During the first half of 2020, the group’s sales rose by 1% to CHF29.3 billion, and core earnings per share grew by 2%. Roche’s net income increased by 3% at constant exchange rates. As a result of the continued appreciation of the Swiss franc against most currencies, net income expressed in Swiss francs decreased by 5% to CHF8.5 billion.

Management reported that since they had been able to make several SARS-CoV-2 tests available and started several global Actemra/RoActemra phase III studies in COVID-19 pneumonia during 1H2020, COVID-19 had not only acted as a headwind for Roche but a tailwind as well.

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