Roche Holding AG

ROG: XSWX (CHE)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	CHF 538.00	Cls	Crblszsvg

Roche: Looking Past COVID-19 Headwinds and TIGIT Uncertainty, Portfolio Appears Solid

Karen Andersen

Apr 26, 2023

We're maintaining our CHF 419/$57 fair value estimates for Roche following first-quarter sales results in line with our expectations, as growth benefited from strong sales of newer products like ophthalmology drug Vabysmo and rare disease drug Evrysdi as well as fading biosimilar headwinds, although foreign exchange and COVID-19 headwinds pushed reported sales to a 7% decline.

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