Roche ended 2021 on a healthy note, with strong top-line growth in Q4 (+12%) ‘again’ being driven by Diagnostics, gains from COVID-19 treatment initiatives, and well-complemented by recovering core pharmas. However, profitability (quite understandably) came in slightly lower due to the higher contribution from low-margin COVID-19 offerings. While the 2022 outlook was also below market expectations, the recovery dynamics in core pharmas is a critical takeaway and, hence, the recent sell-off shoul ....
