Roche 2025 Financial Results Report — CEO Thomas Schinecker: Strong Growth Despite Currency Headwinds

Swiss healthcare giant Roche reported its full-year 2025 financial performance, highlighting resilient sales growth across its pharmaceuticals and diagnostics businesses under CEO Thomas Schinecker’s leadership. The company delivered a 7% increase in group sales at constant exchange rates (CER) to CHF 61.5 billion, driven by broad-based demand for key medicines and diagnostic solutions, though headwinds from a stronger Swiss franc tempered reported results in Swiss francs.

Roche’s results reflect continued portfolio momentum and operational progress, with core profitability and earnings per share expanding meaningfully. This performance underscores the company’s strategic focus on high-value therapies and innovation across multiple disease areas.

Revenue & Overall Performance

For the full year ended December 31, 2025:

• Group sales increased 7% at CER to CHF 61,516 million compared with CHF 60,495 million in 2024 (2% growth in CHF).

• Pharmaceuticals Division sales grew 9% at CER to CHF 47,669 million (3% in CHF).

• Diagnostics Division sales climbed 2% at CER to CHF 13,847 million, though reported sales declined 3% in CHF.

• Core operating profit rose 13% at CER to CHF 21,833 million (5% growth in CHF).

• Core earnings per share (diluted) reached CHF 19.46, up 11% at CER (4% in CHF).

• IFRS net income jumped 58% at CER to CHF 13,799 million (50% in CHF), reflecting strong operating performance and a favorable base effect from impairments in the prior year.

These results demonstrate both top-line expansion and significant operational leverage, particularly as Roche continues to scale profitability while navigating currency pressures.

Pharmaceuticals Division: Key Growth Drivers

Roche’s Pharmaceuticals Division remained the primary driver of group growth, with a 9% increase in CER sales. The company’s leading medicines delivered robust performance across therapeutic areas, reflecting strong global demand.

Top contributing products included:

• Ocrevus, a treatment for multiple sclerosis

• Hemlibra, for haemophilia A

• Phesgo, a breast cancer therapy

• Xolair, for allergic diseases

• Vabysmo, for severe eye diseases

Together, these best-selling products delivered a combined sales contribution of CHF 21.4 billion — up by CHF 3.2 billion at CER versus the prior year.

Roche also continued to manage the decline of certain older products that have lost patent protection, such as Avastin, Herceptin, MabThera/Rituxan, Esbriet, Lucentis, and Actemra/RoActemra, where combined sales fell modestly, partially offset by growth in newer offerings.

Diagnostics Division: Stable Growth and Market Demand

Despite pricing reforms in key markets — notably China — Roche’s Diagnostics Division reported a 2% increase in CER sales, supported by diagnostic product demand in pathology and molecular lab solutions.

Regionally, growth was driven by strong demand in Europe, the Middle East, and Africa and North America, although Asia-Pacific reflected weaker performance due to pricing pressures.

Roche highlighted ongoing development of next-generation sequencing and advanced diagnostic technologies, which are expected to fortify its competitive positioning in lab automation and genomic solutions.

Profitability & Earnings Per Share

Roche’s profitability expanded meaningfully in 2025:

• Core operating profit rose 13% at CER, driven by higher sales and improved operational efficiencies.

• Core diluted EPS grew 11% at CER, reflecting both profit expansion and disciplined cost management.

• IFRS net income experienced a large year-over-year increase, benefiting from strong underlying earnings and the absence of certain impairment charges that weighed on 2024 results.

These profitability gains underscore Roche’s ability to convert revenue growth into shareholder value despite external headwinds.

R&D, Pipeline Progress & Strategic Advances

Roche’s annual releases emphasized continued investment in innovation. The company reported that ten potential new medicines advanced into final-stage clinical development during 2025, and 12 late-stage clinical studies delivered positive results across multiple disease areas, including lupus and oestrogen receptor-positive breast cancer — a segment accounting for the majority of breast cancer cases globally.

In diagnostics, Roche’s next-generation sequencing technology achieved a milestone in decoding a human genome in under four hours, indicating potential leadership in rapid genomic analysis.

These developments reflect Roche’s commitment to pipeline breadth and depth, building long-term value beyond current revenues.

CEO Commentary: Thomas Schinecker

Roche CEO Thomas Schinecker said, “2025 was a strong year for Roche, reflecting our continued focus on operational and R&D excellence. With significant momentum across our pharmaceutical pipeline and sustained progress in diagnostics, we are well positioned for future growth.”

Schinecker’s comments highlight both short-term execution and long-term strategic positioning as the company pushes forward with innovation and global commercial expansion.

Outlook for 2026

For 2026, Roche anticipates mid-single-digit group sales growth at constant exchange rates and high-single-digit growth in core earnings per share, underpinning continued confidence in its business model and portfolio execution. The company also expects to further increase its dividend in Swiss francs, pending shareholder approval.

However, currency volatility — particularly movements in the U.S. dollar relative to the Swiss franc — remains a key variable affecting reported growth in Swiss francs. Reuters reports that foreign exchange effects, including a weaker U.S. dollar, slightly diluted reported performance versus constant-currency results in 2025.

Roche’s 2025 financial results show solid growth supported by strong performance in both pharmaceuticals and diagnostics, alongside meaningful profit and earnings expansion. Despite currency headwinds, the company’s innovation-driven strategy and product portfolio resilience indicate a positive trajectory for 2026 and beyond under CEO Thomas Schinecker’s leadership.