Roche (ROG) UBS European Conference presentation summary

Financial performance and growth

• Achieved strong year-to-date growth in both Pharma and Diagnostics divisions, with base business in Diagnostics up 8% and Pharma showing robust sales evolution excluding COVID-19 impacts.

• Key products such as Vabysmo, Susvimo, and Xolair contributed significantly to sales, with Vabysmo rapidly converting to pre-filled syringe format in the US and Susvimo targeting several hundred implants in 2024.

• Young portfolio, defined by launches since 2015, now accounts for a growing share of Pharma sales, with recent US approvals for Itovebi and PiaSky.

• 2024 guidance raised to high single-digit Core EPS growth and mid single-digit group sales growth, with a further dividend increase planned.

Strategic focus and portfolio development

• Refocused Pharma strategy targets five priority therapeutic areas: Neurology, Ophthalmology, Oncology/Hematology, Immunology, and Cardiovascular/Renal/Metabolism (CVRM).

• Selection of focus areas is driven by societal disease burden, unmet medical need, and internal scientific strengths, covering about 60% of global disease burden and 80% of potential growth.

• End-to-end disease area approach concentrates R&D and commercialization resources for maximum impact.

• Pipeline strengthened through key partnerships and acquisitions, including deals with Sangamo, Monte Rosa, Medilink, Carmot, Alnylam, and others, expanding capabilities in targeted therapy areas.

Pipeline and future outlook

• Pipeline update shows multiple new molecular entities (NMEs) and line extensions (LEs) in late-stage development, with several assets having CHF >3bn peak sales potential.

• Significant regulatory and clinical milestones expected in 2025, including approvals and pivotal trial readouts for inavolisib, Columvi, Lunsumio, Elevidys, Gazyva, Susvimo, and others.

• Upcoming IR events include Digitalization Day on Nov 25, focusing on digital transformation in early R&D and showcasing recent advances in lab automation and data integration.