Roche Defends Vabysmo Forecasts Amid Second Consecutive Quarterly Miss
Roche's Vabysmo sales fell short of analyst expectations for the second quarter in a row, missing estimates by 7.1% and coming in at approximately 1.04 billion Swiss francs ($1.27 billion).
This marked a 1% decline year over year, adding pressure on the company to justify its long-term revenue forecasts for the treatment.
In response to investor concerns, Roche Pharmaceuticals CEO Teresa Graham acknowledged that Vabysmo's early growth is unlikely to return and that a more measured outlook for the drug is expected going forward.
Graham cited a 2% to 3% growth rate in the overall retinal market as the new normal, rather than a rebound to previous levels.
Despite this subdued quarterly figure, Roche still expects Vabysmo's US revenue to grow by a low- to mid-single-digit percentage for the full year, with global sales projected to rise by low double-digits.