Q1 sales, marginally ahead of street estimates, were impacted by the declining demand for COVID-19 testing, as expected. However, excluding COVID-19, both Pharmaceuticals and Diagnostics performed well and 2023 guidance remained unchanged. Overall, we expect the recent sentiment revival for Roche’s shares to extend further and our strong upside is backed by its dominance in most target markets, healthy pipeline execution ability and a robust balance sheet. Important late-stage readouts during th ....
