Roche has reported a 7% increase in full-year 2024 sales at constant exchange rates (CER), reaching CHF 60.5bn ($66.9bn). The growth was driven by strong demand for new medicines, which offset declining revenue from older products facing generic competition.

The company expects sales and core earnings to keep growing this year after beating analysts’ expectations for 2024, and the CEO said it remained committed to keeping its R&D spending broadly flat in 2025.

Roche said on Thursday it is targeting a continued increase in adjusted earnings per share (EPS) at a high single-digit percentage this year, helped by lower costs and growth from drugs such as eye treatment Vabysmo and cancer drug Phesgo.