Roche Holding stock carries 2026 outlook after sales growth

Roche reported stronger underlying growth in the first nine months of 2026 while currency movements limited the increase in reported Swiss francs. In its October 22 investor update, the Basel-based healthcare group said sales reached CHF 46.493 billion, compared with CHF 45.862 billion a year earlier.

At constant exchange rates, group sales increased 6 percent. Reported growth in Swiss francs was 1 percent, reflecting the appreciation of the Swiss franc against several currencies. Third-quarter sales grew 7 percent at constant exchange rates and 8 percent in Swiss francs as the currency effect eased.

Pharmaceuticals lead the expansion

The Pharmaceuticals division generated CHF 36.212 billion in the nine-month period, up 7 percent at constant exchange rates and 2 percent in Swiss francs. Roche said demand for Ocrevus, Hemlibra, Vabysmo, Phesgo and Xolair remained a key driver. Together, the five medicines produced CHF 16.8 billion in sales, an increase of 12 percent at constant exchange rates.

Diagnostics sales reached CHF 10.281 billion. The division grew 4 percent at constant exchange rates but was stable in Swiss francs, as demand for core laboratory and pathology solutions offset the impact of healthcare pricing reforms in China. Roche also reported pressure from older products affected by patent expiries, with combined sales of several such medicines falling by CHF 0.4 billion at constant exchange rates.

Guidance and pipeline remain in focus

Roche confirmed its 2026 outlook for mid-single-digit group sales growth and high-single-digit core earnings-per-share growth, both at constant exchange rates. The company also expects to increase its dividend in Swiss francs. Chief Executive Thomas Schinecker said Roche had advanced five potential new medicines into the final stage of development during the year and was targeting up to 20 new medicines for patients by 2030.

The pipeline includes regulatory reviews for fenebrutinib in multiple sclerosis and giredestrant in breast cancer. Roche also highlighted positive late-stage data for several programs and regulatory progress for diagnostic products, including the Elecsys pTau217 Alzheimer’s blood test. These developments provide potential growth drivers, but their contribution depends on approvals, launch execution and competitive pressure.

Roche Holding stock traded at 432.43 euros on Lang & Schwarz at 10:52 CET on Monday, November 2, 2026. Investors can follow the real-time quote of Roche Holding stock.

Broader Swiss market developments can be followed in the SMI market theme.

For more company-specific developments, see more news and analyses on Roche Holding stock.