SHERIDAN, WYOMING -- July 30, 2026 -- Roche Holding AG closed the first half of 2026 with group sales up 6% at constant exchange rates, even as a strengthening Swiss franc pushed reported CHF results down 2%. The Basel-based healthcare company credited high demand for its medicines and diagnostics portfolios, alongside a wave of regulatory and clinical progress spanning oncology, neurology and ophthalmology. Five separate products received US Priority Review designations during the period, and Roche launched its Axelios 1 next-generation sequencing platform. For buyers and healthcare operators tracking supplier stability, the results signal continued capacity for both commercial delivery and pipeline investment despite currency headwinds.
Currency Swings Mask Underlying Commercial Strength
Group sales reached CHF 30.4 billion for the six months through June, translating to 8% growth in US dollar terms even as the CHF figure slipped 2%. Core operating profit rose 10% at constant exchange rates but fell 1% in CHF, while core earnings per share grew 9% at constant rates and dropped 2% when reported in francs. IFRS operating profit declined 6% in CHF terms. CEO Thomas Schinecker pointed to the sales increase and pipeline development as the drivers of the half, framing the currency effect as a reporting distortion rather than a demand problem.
Pharmaceuticals Division Leans on Five Established Growth Drivers
The Pharmaceuticals Division generated CHF 23.6 billion in sales, up 6% at constant exchange rates. Xolair, Hemlibra, Ocrevus, Phesgo and Vabysmo together produced CHF 11.0 billion, a 12% constant-currency increase that more than offset an 8% decline in sales of products facing patent expiry, including Avastin and Herceptin. US sales rose 6% at constant rates despite a 3% CHF decline, supported by continued uptake of Xolair, Hemlibra, Polivy and Tecentriq. Japan posted the fastest regional growth at 11% at constant rates, driven partly by third-party product supply and the rollout of Elevidys for Duchenne muscular dystrophy.
Diagnostics Grows Despite China Pricing Pressure
Diagnostics Division sales climbed 3% at constant exchange rates to CHF 6.7 billion, with immunodiagnostic, clinical chemistry, pathology and molecular products driving the gain. North America diagnostics sales rose 8% at constant rates on growth across Core Lab and Pathology Lab customer segments. Asia-Pacific sales fell 5% at constant exchange rates, a drop tied to healthcare pricing reforms in China that partially offset otherwise stable regional demand. Roche used the diagnostics update to spotlight the launch of Axelios 1, a next-generation sequencing platform built on SBX technology that the company positions for same-day, whole-genome sequencing in research settings.
Regulatory Filings Cluster Around Oncology and Autoimmune Disease
Five compounds secured FDA Priority Review status during the half. Giredestrant, an oral selective oestrogen receptor degrader, advanced toward a November 2026 decision date for early-stage breast cancer. Enspryng received Priority Review for thyroid eye disease, where it would become the first at-home subcutaneous treatment option if cleared. Tecentriq's filing targets a specific subtype of stage III colon cancer, while Gazyva/Gazyvaro drew Priority Review consideration for two distinct autoimmune kidney conditions. A supplemental filing for the Lunsumio-Polivy combination in blood cancer was also accepted by regulators, based on phase III data showing a 59% reduction in disease progression or death risk.
Late-Stage Trial Results Span Lung Cancer to Obesity
Divarasib delivered positive phase III results in previously treated advanced lung cancer, showing improvements against approved KRAS G12C inhibitors without new safety signals. Fenebrutinib produced phase III data in relapsing multiple sclerosis, with Roche noting the drug's potential as a first-in-class BTK inhibitor. Phase II results for enicepatide and petrelintide added to Roche's obesity portfolio, and the company said a combination trial of the two candidates will start within months. Gazyva/Gazyvaro also generated phase III data across three separate autoimmune indications during the reporting period.
PathAI Acquisition Targets AI-Driven Pathology Workflows
Roche agreed to acquire PathAI in a move aimed at strengthening its digital pathology capabilities. The deal pairs PathAI's Image Management System, which applies AI analysis to pathology workflows, with Roche's existing companion diagnostics business. Roche said the combination is intended to speed clinical therapy development and support discovery of new biomarkers. Separately, the company struck a global collaboration with Nurix Therapeutics to co-develop bexobrutideg, a BTK degrader with potential application across malignant haematology, immunology and neurology.
Company Confirms Full-Year 2026 Outlook
Roche maintained its guidance for mid single-digit constant-currency group sales growth in 2026, alongside high single-digit growth in core earnings per share. The company also confirmed plans to further increase its dividend in Swiss francs. Management framed the confirmed outlook as a function of pipeline breadth rather than a single product cycle. Roche's diagnostics and pharmaceuticals businesses each posted regional divergence during the half, with growth in some markets offsetting softness tied to currency and pricing reform elsewhere.