Roche\u2019s adjusted operating profit rose by a lower-than-expected 5% in 2025, due to the weakened US dollar, despite the drugmaker reporting strong growth for food allergy medicine Xolair (omalizumab) and multiple sclerosis treatment Ocrevus (ocrelizumab).<\/p>\n
Core operating profit reached SFr21.8bn ($28.4bn) for the Swiss big pharma company in 2025, slightly down from a market consensus of SFr22bn cited by analysts.<\/p>\n
Total sales for Roche came in at SFr61.5bn, a 7% change at constant exchange rates (CER). This growth dropped to 2% in Swiss Francs. The CER value was in line with consensus, as per a research note from Citi analysts. Core earnings per share were SFr19.46, 1% below consensus.<\/p>\n
In its report, Roche stated: \u201cThe appreciation of the Swiss Franc against most currencies, notably the US dollar, had a significant impact on the results reported in Swiss Francs compared to CER.\u201d<\/p>\n
On an earnings call, Roche\u2019s chief financial officer Alan Hippe said: \u201cThe weak US dollar is something we\u2019re fighting against.\u201d<\/p>\n
Alluding to the market volatility in foreign exchange rates, Hippe said he expects \u201cthe same picture for 2026\u201d if current rates hold throughout the year.<\/p>\n