‘Diagnostics Has Been Underestimated’: COVID-19 Testing Drives Roche Diagnostics Q1 Sales
Roche's diagnostics sales increased 5% to $2.93bn in the first quarter of 2020. Molecular diagnostics was the main growth contributor, driven by demand for COVID-19 tests and automated testing systems.
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Roche's diagnostics division grew 3% in the first half of 2020 with exploding demand for COVID-19 tests offsetting declines in routine testing.
The company says the serology test has a specificity of 99.8% and sensitivity of 100%
The coronavirus pandemic has not had much impact to date on Roche's operations and first-quarter sales grew nicely. However, CEO Severin Schwan hopes certain countries will learn the lesson about not being prepared.